Modi to launch Stand up India scheme on April 5

Prime Minister Narendra Modi will launch Stand up India scheme on Tuesday under which banks will give loans of up to one crore rupees to Scheduled Caste, Schedule Tribe and Women entrepreneurs.

The scheme is being launched to promote entrepreneurship among SC, ST and Women for loans in the range of 10 Lakhs to one crore rupees. 

Finance Ministry in a release said, the Scheme is expected to benefit large number of such entrepreneurs, as it is intended to facilitate at least two such projects per Scheduled Commercial Bank branch on an average one for each category of entrepreneur.

The overall intent of the proposal is to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC,



ST and Women borrowers. 

The initiative will also develop synergies with ongoing schemes of other Departments. Under the scheme, charging and service station will also be set up, which will help the growth of emergence of small and micro enterprises along with creating many opportunities for entrepreneurs.

The launch event would involve distribution of 5100 E-Rickshaws by Bhartiya Micro Credit (BMC) under the Pradhan Mantri Mudra Yojna scheme. 

BMC, aims to spread awareness of the financial inclusion and social security schemes and proposes to take the benefits to poor and destitute people in the country. 

It said, the idea is to facilitate the up gradation of pedal rickshaw pullers into E Rickshaw owners and help create threefold increment in their income.