Aimed at providing credit to Scheduled Caste, Scheduled Tribe, and women borrowers in the country BJP governments ambitious Stand up India scheme will be launched by Prime Minister Narendra Modi today.
“Today the ‘Stand up India’ initiative will be launched. This initiative will promote entrepreneurship among women, SC & ST communities,” tweeted Prime Minister.
Governor of U.P. Ram Naik, Union Minister of Finance, Arun Jaitley, Union Minister of State (I/C) for Culture and Tourism, Dr. Mahesh Sharma and Union Minister of State for Finance Jayant Sinha will also be present on this occasion.
Keeping the high profile visit in mind Uttar Pradesh police has made elaborate security arrangements.
“Ghaziabad police has enforced Operation Green under which no vehicle will be permitted to ply in the area. District borders touching Delhi and Noida will be sealed completely till the PM’s programme concludes,” said Superintendent of Police (City) Salman Taj Patil.
The ‘’Stand up India’’ scheme is intended to give loans up to Rs. 1 crore for SC, ST and women entrepreneurs they will be given a RuPay debit card to enable the withdrawal of the working capital.
“The 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,” a release said.
The government has also plans to provide refinance through the Small Industries Development Bank of India (SIDBI) with an initial amount of Rs. 10,000 crore.
The scheme will also create a corpus of Rs. 5,000 crore for credit guarantee via the National Credit Guarantee Trustee Company. On this occasion, PM will also distribute e-rickshaws under Pradhan Mantri Mudra Yiojana.