With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct?
- Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs.
- It provides for refinance through SIDBI,
Select the correct answer using the code given below.
[UPSC Civil Services Exam – 2016 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither1 nor 2
- The objective of the Stand-Up India scheme is to facilitate bank loans between 10 lakh and 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.
- SIDBI has formulated a Special Refinance Scheme to Banks for extending assistance under Stand-Up India.