|Consider the following statements about the 'Stand Up India Scheme.'|
|1. It is an initiative to prome entrepreneurship among SC, ST and women entrepreneurs.|
|2. It provides for refinance window through Small Industries Development Bank of India (SIDBI) initial amount of Rs. 10000 crore.|
|3. It also provides for creation of a credit gurantee mechanism through the National Credit Guarantee Trustee Company (NCGTC).|
|Which of the statement(s) given above is/are incorrect?|
A) Only 1
B) 1 and 2
C) 1 and 3
D) None of these
Correct Answer: D
Solution :[d] The Union Government launched the "Stand Up India Scheme" to promote entrepreneurship among SC/ST and women entrepreneurs. The scheme is intended to facilitate at least two such projects per bank branch, on a average one for each category of entrepreneur. It is expected to benefit atleast 2.5 lakh borrowers, The Stand Up India Scheme provides for refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs.1000 crore, creation of a credit guarantee mechanism through the National Credit Guarantee Trustee Company (NCGTC). handholding support for borrowers both at the pre loan stage and during operations. This would include increasing their familiarity with factoring services, registration with online platforms and e-market places as well as sessions on best practices and problem solving.
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