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

    Question

    With reference to 'Stand Up India Scheme', which of the

    following statements is/are correct? 1. Its purpose is to encourage entrepreneurship among SC/ST and women entrepreneurs.  2. It is to facilitate bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower. Choose the correct answer using the code given below.
    A 1 only Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C Both Correct Answer Incorrect Answer
    D None Correct Answer Incorrect Answer

    Solution

    The objective of the Stand-Up India scheme is to facilitate bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services, agri-allied activities or the trading sector In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.

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