A beneficiary of Stand Up India Scheme will be able to avail the services through which of the following ways?
I- Directly at the branch
II- Through Stand-Up India Portal
III- Through the Lead District Manager (LDM)
IV- Post Offices
Explanation: Stand Up India: Launched in 2016 for facilitating credit to SC/ST and Women entrepreneurs. Bank loans between Rs.10 lakh and Rs. 1 crore to SC/ ST borrower and woman borrower for setting up a greenfield enterprise. The scheme provides financial assistance (funded /non-funded) for working capital, acquisition of fixed assets in manufacturing, services or retail sector. Loan may be secure by collateral security or at the guarantee of Credit Guarantee Fund for Stand-Up India Loans (BGFSIL) as decided by the banks. The scheme, which covers all branches of Scheduled Commercial Banks, can be accessed in three potential ways: · Directly at the branch · Through Stand-Up India Portal (www.standupmitra.in) · Through the Lead District Manager (LDM) Features • Loan may be secure by collateral security or at the guarantee of Credit Guarantee Fund for Stand-Up India Loans (BGFSIL) as decided by the banks. • Refinance window through SIDBI with an initial amount of Rs. 10,000 Crores. • Offices of SIDBI & NABARD are designated as Stand-Up Connect Centres to arrange the support that is needed.
