Narendra Modi to launch ‘Stand Up India’ scheme on April 5

By: | Published: March 29, 2016 3:40 AM

Prime Minister Narendra Modi will on April 5 inaugurate Stand Up India initiative which is aimed at creating jobs and promoting entrepreneurs among SC, ST and women by extending loans at cheaper rates.

Prime Minister Narendra Modi will on April 5 inaugurate Stand Up India initiative which is aimed at creating jobs and promoting entrepreneurs among SC, ST and women by extending loans at cheaper rates.

The ‘Stand Up India’ scheme will be launched by Narendra Modi at a function to be held at Noida.

The Cabinet, headed by Narendra Modi, had in January approved ‘Stand up India’ scheme for providing credit to SC, ST and women entrepreneurs at lower rates.

Under the ‘Stand Up India’ scheme, to be implemented through 1.25 lakh bank branches, banks will give loans at the “least applicable rate” of interest.

Also every bank branch, including private sector, will give loans between Rs 10 lakh and Rs 1 crore to at least one SC/ST and one woman entrepreneur under the scheme.

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