Prime Minister Modi to launch the “Stand up India scheme” on Tuesday

The programme It will be attended by Uttar Pradesh Governor Ram Naik as well as Union Finance Minister, Union Minister for Culture and Tourism and Union Minister of State for Finance among others.

 

The ministyr said that the “Stand up India Scheme” is being launched  to promote entrepreneurship among Scheduled Caste/Schedule Tribe and Women for loans in the range of Rs 10 lakhs to Rs 100 lakhs. 

 

The Scheme is expected to benefit a large number of such entrepreneurs, as it is intended to facilitate at least two such projects per bank branch (Scheduled Commercial Bank) on an average one for each category of entrepreneur, announced by the ministry. 

 

The broad features of the scheme are:

 

I. Composite loan between Rs. 10 lakh and upto Rs.100 lakh, inclusive of working capital component for setting up any new enterprise. 

 

II. Debit Card (RuPay) for drawing of working capital. 

 

III. Credit history of borrower to be developed. 

 

IV. Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs.10,000 crore. 

 

V. Creation of a corpus of Rs. 5,000 crore for credit guarantee through NCGTC. 

 

VI. Hand-holding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc. 

 

VII. Web Portal for on-line registration and support services. 

 

The overall intent of the proposal, according to the ministry, 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. 

 

SIDBI would lead the process in collaboration with Dalit Indian Chamber of Commerce and Industry (DICCI) and various other sectors. The offices of SIDBI and National Bank for Agriculture and Rural Development (NABARD) shall be designated Stand Up Connect Centres (SUCC). 

 

Distribution of 5100 E-Rickshaws by Bhartiya Micro Credit (BMC) under the Pradhan Mantri Mudra Yojna scheme will also be distributed at the programme. In addition the recipients will also be covered under Pradhan Matri Jan Dhan Yojna, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Jivan Jyoti Yojana, Atal Pension Yojana schemes and other eight significant Prime Minister schemes. 

 

 Vijay Pandey, Managing Director, Bhartiya Micro Credit said, “Bhartiya Micro Credit aims to spread awareness of the financial inclusion and social security schemes and proposes to take the benefits to poor and destitute people in the country. The idea is to facilitate the up gradation of pedal rickshaw pullers into E Rickshaw owners and help create threefold increment in their income. Credit for all these facilities are being provided under Mudra Scheme. The progression to E rickshaw from pedal rickshaw will also help contribute towards achieving the goals of Swachh Bharat Abhiyan. Sach hua Sapna, Rickshaw hua apna!". 

 

It was also announced that as the first step of this process, the pedal rickshaw pullers are being provided training post which certificate is provided by NSDC. 

 

150 women drivers have been trained. 

 

In addition, customers will also be able to book E Rickshaw through Ola mobile apps and make online payment via Freecharge, which will be integrated under the Digital India initiative. 

 

Under the scheme, charging and service station will also be set up, which will help the growth of emergence of small and micro enterprises along with creating many opportunities for entrepreneurs. This organically integrates Bhartiya Micro Credit (BMC) E-Rickshaws program into Prime Minister Shri Narendra Modi flagship ‘Stand Up India’ initiative. 

 

Prime Minister Modi had launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) for “Banking the Unbanked” on Aug 15, 2014. .