The Central government's prestigious Stand up India scheme which is going to be launched across 1.25 Lakh branches along with Start up India Scheme on January 16th. The Central Government of India has approved funds of Rs 8.000 Crores which will stand guarantee for new ventures.The cabinet has also announced 'Stand up India' scheme which facilitates Scheduled Castes,Scheduled Tribes and women entrepreneurs at low rates.
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| Narendra Modi |
The Cabinet meeting headed by Narendra Modi has cleared the creation of Credit Guarantee Fund (CGF) of Rs 3000 Crores for MUDRA loans. MUDRA scheme which was launched in April 2015 has extended loans worth Rs 72,000 Crore to 1.73 lakh beneficiaries.This will safeguard against the default of Rs 50,000 to Rs 10,00,000 Lakh loan extended to small entrepreneurs.Remaining Rs 5,000 Crores will be given to stand up CGF which will guarantee Rs 10 Lakhs to Rs 1 Crore loans which will be provided to at least 2.5 lakh SC/ST Women.
The sessions on best practices and problem solving will not only increase the familiarity with several factory services but also for various online registration platforms and e-market places . Banks will give loans at an applicable rate of interest.Stand up India scheme is expected to target at least 2.5 lakh approvals in 3 years from the date of launch.
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