Skip to main content

‘Stand Up India’

Cabinet approves ‘Stand Up India’ scheme:

 The Union Cabinet, approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs.

The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for each category of entrepreneur. It is expected to benefit atleast 2.5 lakh borrowers.

The Scheme envisages :

• Focus is on handholding support for both SC/ST and Women borrowers.

• The overall intent of the approval is to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans repayable up to 7 years and between Rs. 10 lakh to Rs. 100 lakh for greenfield enterprises in the non farm sector set up by such SC, ST and Women borrowers.

• The loan under the scheme would be appropriately secured and backed by a credit guarantee through a credit guarantee scheme for which Department of Financial Services would be the settler and National Credit Guarantee Trustee Company Ltd. (NCGTC) would be the operating agency.

• Margin money of the composite loan would be up to 25%. Convergence with state schemes is expected to reduce the actual requirement of margin money for a number of borrowers.

• Over a period of time, it is proposed that a credit history of the borrower be built up through Credit Bureaus.

Labels:

Comments

Post a Comment

Popular posts from this blog

Inland Waterways in India

Here are some key points you need to know: The bill seeks to add 106 inland waterways to the existing six National Waterways on the recommendations of the Parliamentary Standing Committee on Transport, Tourism and Culture and comments of several state governments The bill will also look after the renovation and maintenance of the existing waterways Out of the 106 new waterways, 18 have already been identified. These include five waterways each from Karnataka and Meghalaya, three each from Maharashtra and Kerala, one each from Tamil Nadu and Rajasthan The bill also aims to help the Inland Waterways Authority of India (IWAI) to develop the feasible stretches for Shipping and Navigation. Let us look at the six existing National Waterways in India: National Waterway 1 (NW1) The National Waterway No. 1 uses a 1,620-kilometre stretch of the Ganges River. It was declared a national waterway in the year 1986 and runs from Allahabad in Uttar Pradesh to Haldia in West Bengal....
Post a Comment
Read more

INS Kadmatt commissioned at Naval Dockyard in Visakhapatnam

INS Kadmatt commissioned at Naval Dockyard in Visakhapatnam  INS Kadmatt, the second ship of Project 28 class ,anti-submarine warfare (ASW) corvettes, was commissioned at the Naval Dockyard in Visakhapatnam. INS  Kadmatt  is the second of four anti-submarine warfare corvettes built for the Indian Navy by the Garden Reach Shipbuilders and Engineers of Kolkata under Project 28. INS Kadmatt has been named after the Kadmat Island of India’s Lakshadweep Islands. The primary role of the INS  Kadmatt  is in anti submarine warfare – to protect ships in convoys and ports from enemy submarine attacks. What is anti submarine warfare? Anti-submarine warfare    is a branch of underwater warfare that uses surface warships, aircraft, or other submarines to find, track and deter, damage or destroy enemy submarines. Successful anti-submarine warfare depends on a mix of sensor and weapon technology, training, experience and luck. Soph...
Post a Comment
Read more

Is it constitutional to keep women off Sabarimala?

The Supreme Court  said: No temple or governing body can bar a woman from entering the famous Sabarimala shrine in Kerala where lakhs of devotees throng annually to worship. When the Devaswom Board countered that the prohibition was based on custom followed for the past half century, court asked what proof the Board had to show that women did not enter the sanctum sanctorum over 1500 years ago. Court observed that the Constitution rejects discrimination on the basis of age, gender and caste.  The petition filed by the Indian Young Lawyers Association and five women lawyers seeking a direction to allow entry of women into the Sabarimala Ayyappa temple without age restriction. Women in the age group 10-50 are not allowed entry. The apex court had issued notice in the case way back in 2006. The petition had contended that women, aged between 10 and 50, touching the idol was considered an act of desecration. Backthen: An attempt was made to prosecute...
Post a Comment
Read more