Business Other News 04 Apr 2016 Stand up India schem ...

Stand up India scheme out tomorrow

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Apr 4, 2016, 1:36 am IST
Updated Apr 4, 2016, 1:36 am IST
Prime Minister Narendra Modi
 Prime Minister Narendra Modi

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.

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