The Stand Up India Scheme was launched on 5th April 2016 to promote entrepreneurship at the grassroots level and create jobs. The scheme has been extended up to the year 2025.
- The scheme focuses on promoting entrepreneurship among women, Scheduled Castes (SC) and Scheduled Tribes (ST).
- The scheme provides loans for greenfield enterprises in manufacturing, services, trading sectors and agriculture-related activities.
- Union Finance & Corporate Affairs Minister Nirmala Sitharaman said that more than 1.8 lakh women and SC/ST entrepreneurs have been sanctioned loans for over Rs. 40,600 crore.
- The scheme has created an ecosystem that facilitates access to loans from bank branches of all Scheduled Commercial Banks.
- The scheme has touched numerous lives by providing affordable credit to the unserved/underserved segment of entrepreneurs.
- The scheme has provided wings to aspiring entrepreneurs to showcase their entrepreneurial acumen and drive economic growth.
- The scheme aims to encourage all bank branches in extending loans to borrowers from SC, ST and women in setting up their own greenfield enterprise.
- Loans under the scheme are available for only greenfield projects.
- The online portal www.standupmitra.in provides guidance to prospective entrepreneurs in their endeavor to set up business enterprises.
Question : On which date was the Stand-Up India Scheme launched?
a) April 5, 2015
b) April 6, 2016
c) April 5, 2016
d) April 6, 2015
Answer: c) April 5, 2016
