Stand up India Programme Launched


Prime Minister launched the “Stand up India scheme” and a Web portal for the scheme on April 5, 2016 at Sector 62, NOIDA.
The “Stand up India Scheme” is being launched now 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 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. 

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 drawal 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. Handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc. 

VII. Web Portal for online registration and support services. 

The overall intent of the proposal is to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and Women borrowers. The initiative will also develop synergies with ongoing schemes of other Departments. 

The process would be led by SIDBI with involvement of Dalit Indian Chamber of Commerce and Industry (DICCI) and various sector – specific institutions all over the country. The offices of SIDBI and National Bank for Agriculture and Rural Development (NABARD) shall be designated Stand Up Connect Centres (SUCC). 

The launch event would involve distribution of 5100 E-Rickshaws by Bhartiya Micro Credit (BMC) under the Pradhan Mantri Mudra Yojna scheme. 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.
Bhartiya Micro Credit (BMC)

Bhartiya Micro Credit (“BMC”) is a micro-finance company registered & licensed as Non Profit Making Company (Non Deposit taking) under section 25 of the Companies Act, 1956 and exempt from the provisions of Chapter III B of the RBI Act, 1934. It got registered in the year 2007. Organisations provides financial services to poor rural/semi urban families in the Central & Eastern Uttar Pradesh, India to enable them to invest in income-generating activities. It also provides insurance products by collaborating Insurance Companies to assist in asset development, as well as a complementary loan product for special emergencies.

As an organization dedicated to the socio-economic development of rural/semi urban communities, BMC is also looking to facilitate additional services to its clients through alliances with other organizations in the area of economic development and empowerment. Main focus of the organization is to enhance the income of households and improve the status of women in the society.
“Bhartiya Micro Credit (BMC) 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.

Friday, 08th Apr 2016, 08:54:22 PM

Add Your Comment:
Post Comment