Question

Which of the following Statements about the Stand Up India scheme is/are Correct? (

Q: Answer-Which of the following Statements about the Stand Up India scheme is/are Correct? (I) It facilitate...

Stand Up India Scheme offers bank loans from Rs. 10 lakh to Rs. 1 crore to at least one woman borrower and one Scheduled Caste SC or Scheduled Tribe borrower per bank branch for setting up of Greenfield enterprise. The enterprise shall be engaged in agri-allied activities, manufacturing, or trading sectors. At least 51 shareholding and controlling stake should be with either an SCST andor women borrower in the case of the non-individual enterprise. Interest Rate Banks MCLR 3 Tenor Premium Repayment tenure Max. 7 years with Moratorium Period up to 18 months Min. age criteria 18 years for SCST and Women Entrepreneur Loan amount Rs. 10 lakh Rs. 1 crore

I It facilitates bank loans between Rs. 10 lac to Rs 1 Crore. (I
I It should be repaid in up to 7 years with a moratorium of up to 36 months. (II
I The interest rate would be the lowest applicable rate of the bank not exceeding Bank’s MCLR + 4% + Tenor Premium