New Delhi: Prime Minister Narendra Modi will launch the “Stand up India scheme” on Tuesday to promote entrepreneurship among scheduled caste/schedule tribe and women. Under the scheme SC/ST and women entrepreneur will be provided loans between Rs 10 lakh to Rs 1 crore. It 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 overall intent of the proposal is to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and women borrowers. The initiative will also develop synergies with ongoing schemes of other departments. The process would be led by Sidbi with involvement of DICCI and other institutions across the country.
