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.
✓ Correct answer: c) Both 1 and 2
ExplanationStatement 1 is correct : Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs.A scheme by the Ministry of Finance launched on 5 April 2016 to support entrepreneurship among women and SC & ST com- munities by facilitating loans ranging from ₹10 lakh to ₹1 crore for at least one SC/ST borrower and one woman borrower per bank branch.For non-individual enterprises, a minimum 51% shareholding and controlling stake must be held by an SC/ST or woman entrepreneur.Statement 2 is correct : It provides for refinancing through SIDBI.The Stand-Up India scheme leverages the Small Industries De- velopment Bank of India (SIDBI) as a key mechanism for refi- nancing loans provided under the scheme.SIDBI plays a crucial role in providing refinance support to lending institutions, such as banks, that offer loans to eligible SC/ST and women entrepre- neurs.This refinancing arrangement helps to ensure that lending institutions have access to adequate funds to support entrepre- neurs under the Stand-Up India scheme.SIDBI’s involvement is essential for the scheme’s financial
Practice more Current PYQs
Attempt a free 10-question quiz or browse the full Current Affairs previous-year-question bank with instant answers and explanations.
🗞️ Current PYQs →