New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following criteria is not true with

    respect to Stand Up India Scheme?
    A SC/ST/OBC and/or woman entrepreneurs, above 18 years of age Correct Answer Incorrect Answer
    B In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur Correct Answer Incorrect Answer
    C Borrower should not be in default to any bank/financial institution Correct Answer Incorrect Answer
    D Minimum 10% of the project cost to be borne by the borrower Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Stand Up India: Launched in 2016 for facilitating credit to SC/ST and Women entrepreneurs The scheme covers all branches of Scheduled Commercial Banks. 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) Eligibility •             SC/ST and/or woman entrepreneurs, above 18 years of age •             In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur •             Borrower should not be in default to any bank/financial institution •             Minimum 10% of the project cost to be borne by the borrower

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