PM Modi to launch Stand Up India initiative for SCs/STs in Noida today

Apr 05 2016 10:31 AM
PM Modi to launch Stand Up India initiative for SCs/STs in Noida today

Prime Minister Narendra Modi will launch another campaign The Stand Up India initiative at Noida on Tuesday. the initiative to start this campaign is to promote entrepreneurship among the Scheduled Castes, Scheduled Tribes, and women, by facilitating loans in the range of Rs.10 lakh to Rs.100 lakh, an official statement said. Also, PM will launch a web portal for it on Tuesday in suburban Noida Named the “Stand up India Scheme”,

Union Finance Minister Arun Jaitley will be also attend the event. apart from that, Union Minister for Culture and Tourism Mahesh Sharma and Union Minister of State for Finance Jayant Sinha, among others, and Uttar Pradesh Governor Ram Naik.

Sources said “The scheme also facilitate refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs.10,000 crore, the official announcement said. The overall intent of the proposal is to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans in the non-farm sector. And also, each branch of a scheduled commercial bank shall facilitate at least two such loans.

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