Prime Minister Narendra Modi has launched Stand Up India Initiative in Noida. The aim of this initiative is to "promote entrepreneurship" among people from Scheduled Castes and Scheduled Tribes and women. The Stand up India will offer loans in the range of Rs. 10 Lakhs to Rs. 100 Lakhs. . The scheme will also offer RuPay Debit Card for withdrawal of working capital. It will also provide Refinance window through SIDBI with an initial amount of Rs.10,000 crore Prime Minister also inaugurated Web Portal for online registration and support services under Stand Up India.
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 set up by such SC, ST and Women borrowers. 5,100 e-rickshaws were distributed by Bhartiya Micro Credit (BMC) under the Pradhan Mantri Mudra Yojana as part of Stand Up India's launch event. After the success of Mudra Yojana, Stand Up india will play an important role in promoting Entrepreneurship among SC ST and Women.
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