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.
- A1 only
- B2 only
- CBoth 1 and 2Correct
- DNeither 1 nor 2
Explanation
The 'Stand Up India Scheme' was launched by the Government of India with the primary objective of promoting entrepreneurship among women and Scheduled Castes (SC) and Scheduled Tribes (ST) entrepreneurs. This is achieved by facilitating bank loans for setting up greenfield enterprises in manufacturing, services, or trading sectors. The scheme mandates that each bank branch should facilitate at least one SC/ST borrower and one woman borrower. To support this lending, the scheme provides for refinance through the Small Industries Development Bank of India (SIDBI), which acts as the nodal agency for the scheme. Therefore, both statements are correct.
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