Prime Minister Narendra Modi will on Tuesday launch the ‘Stand up India’ scheme under which banks will give loans of up to `1 crore to SC/ST and women entrepreneurs. “Prime Minister will be launching the Stand Up India scheme and a web portal for the scheme on April 5, at Noida,” a finance ministry statement said. The event would be attended by Governor, Uttar Pradesh, Union Finance Minister Union Minister for Culture and Tourism of State for Scheme is aimed at promoting entrepreneurship among Scheduled Castes/Scheduled Tribes and women by giving loans in the range of ` lakh to` 1 crore for setting up new enterprise. The scheme is expected to benefit large number of such entrepreneurs, as it is intended to facilitate at least two such projects per bank branch on an average one for each category of entrepreneur,” the statement added.
SC/ST and women entrepreneurs who avail loan would be given a RuPay Debit Card for withdrawal besides comprehensive support like pre-loan factoring facilitating There would be a `10,000 crore refinance window through Small industries Development Banl of India (SIDIB) and the National Credit Guarantee Trustee Company Ltd (NCGTC) will create a corpus of ` 5,000 crore. The government will create a web portal for online registration and support services and also prepare a credit history of borrowers.
