With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct? 1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 2. It provides for refinancing through SIDBI. Select the correct answer using the code given below.

QUESTION

Medium

Social Issues & Schemes

Prelims 2016

With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct?

Select the correct answer using the code given below.

Select an option to attempt

Explanation

Statement 1 is Correct: The Stand-up India scheme aims at promoting entrepreneurship among women and scheduled castes and tribes.

Statement 2 is Correct: The scheme is anchored by the Department of Financial Services (DFS), Ministry of Finance, Government of India.

The scheme provides for a refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs, 10,000 Crore.
Stand-Up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
This enterprise may be in manufacturing, services or the trading sector.
In the case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.

Hence,option C is the correct answer.

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