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Q: With reference to ‘stand up India scheme’, which of the following statement is/are correct? Its purpose is to
a) promote entrepreneurship among SC/ST and women entrepreneurs.
b) It provides for refinance through SIDBI.
The correct answer is Both 1 and 2.
Stand Up India Scheme
- It is aimed at promoting entrepreneurship among SC/ST and Women entrepreneurs and facilitates at least two such projects per bank branch. Hence statement 1 is correct.
- With an initial sum of Rs. 10,000 crore, it allows for refinancing through the Small Industries Development Bank of India (SIDBI). Hence statement 2 is correct.
- It makes it possible for at least one borrower from a Scheduled Caste (SC) or Scheduled Tribe (ST) and at least one woman to obtain bank loans between ten lakh and one crore for the establishment of a new business in the manufacturing, service, or trading sectors.
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