Prime Minister Narendra Modi launched Stand Up India Scheme

Posted on:06 Apr 2016 09:11:51

Prime Minister Narendra Modi launched Stand Up India Scheme
06 April 2016 Current Affairs GK: The Prime Minister Narendra Modi on 5 April 2016 launched Stand Up India Scheme to promote entrepreneurship among Scheduled Caste/Scheduled Tribes and Women entrepreneurs.On this occasion, the Prime Minister also inaugurated a Kaushal Kendra (Skilling Center) under Pradhan Mantri Mudra Yojna in Noida.The Scheme is intended to facilitate at least two projects per bank branch, on an average one for each category of entrepreneur. It is expected to benefit at least 2.5 lakh borrowers within 36 months.Stand Up India Scheme provides for refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of 10000 crore rupees.It will create credit guarantee mechanism through the National Credit Guarantee Trustee Company (NCGTC). It will provide support for borrowers both at the pre loan stage and during operations.Its focus is on handholding support for both SC/ST and Women borrowers.The aim is to leverage institutional credit structure to reach out under-served sectors of the population by facilitating bank loans repayable up to 7 years and between 10 lakh rupees- 100 lakh rupees for greenfield enterprises in nonfarm sector set up by such SC, ST and Women borrowers.The loan under the scheme would be appropriately secured and backed by a credit guarantee through a credit guarantee scheme for which Department of Financial Services would be the settler.The National Credit Guarantee Trustee Company Ltd (NCGTC) will be the operating agency for the loan.Margin money of the composite loan would be up to 25 percent.

Gk Current Affairs April 2017

27 APRIL
NEWS
26 APRIL
NEWS
25 APRIL
NEWS
24 APRIL
NEWS

Gk Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Gk Current Affairs February 2017

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
25 FEBRUARY
NEWS
24 FEBRUARY
NEWS




Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.