CURRENT AFFAIRS

Detailed explanation-1: -”Rs 20, 466.94 crores of loans have been sanctioned under Stand up India Scheme to over 91, 000 accounts upto 10.03. 2020 since inception of the Scheme, ” said Thakur in a written reply in Rajya Sabha on Tuesday.

Detailed explanation-2: -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.

Detailed explanation-3: -Composite loan (inclusive of term loan and working capital) between 10 lakh and upto 100 lakh.

Detailed explanation-4: -Stand up India Scheme was launched on April 5, 2016, to promote SC, ST and women entrepreneurs at the grassroot level focusing on economic empowerment and job creation. In 2019-20, the Stand Up India scheme was extended till 2025.

Detailed explanation-5: -The objective of the scheme is to facilitate composite bank loans (including term loan and working capital) between Rs. 10 lakh (US$ 14, 000) and Rs. 1 crore (US$ 140, 000) to at least one SC or ST borrower and one woman borrower per bank branch (without collateral) for setting up a Greenfield enterprise.