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.
- (a) 1 only
- (b) 2 only
- (c) Both 1 and 2 ✓ UPSC's answer
- (d) Neither 1 nor 2
Why the answer is (c)
• Stand Up India (2016) requires each bank branch to lend between ₹10 lakh and ₹1 crore to at least one SC/ST borrower and one woman borrower for setting up a greenfield enterprise (statement 1).
• SIDBI provides refinance support through a Refinance Window, with a credit guarantee fund via NCGTC (statement 2).
• Hence both 1 and 2, option (c).
Why the other options are wrong
- (a) 1 only
- Statement 2 is also correct: SIDBI refinances.
- (b) 2 only
- Statement 1 is also correct: it targets SC/ST and women.
- (d) Neither 1 nor 2
- Both statements are correct.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2016, held on 7 August 2016. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.