With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct? 1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 2. It provides for refinance through SIDBI. Select the correct answer using the code given below.
- A. 1 only
- B. 2 only
- C. Both 1 and 2
- D. Neither 1 nor 2
Answer: C
Explanation
“Stand Up India Scheme” was initiated to promote entrepreneurship among Scheduled Castes, Schedule Tribes and Women. The scheme will provide financial aid through the Small Industries Development Bank of India (SIDBI) with an initial amount of Rs 10,000 crore. The system will personally guide each entrepreneur through the pre- loan and operational phases. The scheme will also familiarise the entrepreneurs with factoring services, e-market places and registration with online platforms and other aspects of web entrepreneurship.