Which of following statements are correct regarding Stand up India Scheme 1 Stand Up India sch...........

Economic Affairs Make in India

Which of following statements are correct regarding Stand up India Scheme?

1. Stand Up India scheme aimed at encouraging entrepreneurship among Dalits, tribals and women by providing them bank loans upto one crore.

2. It provides for IPR protection to startups and ensures reduction in patent registration fee.

3. It provides for freedom from capital gains tax and freedom from tax in profits for 3 years.

4. It makes provision for setting innovation hub under Atal Innovation Mission.

Which of the statements given above are correct?

1, 2 and 4 Only

2 and 3 Only

1 Only

1, 3 and 4 Only

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Explanation:

Stand Up India Scheme" aimed to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for each category of entrepreneur. It is expected to benefit at least 2.5 lakh borrowers. The overall intent of the approval is to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans repayable up to 7 years and between Rs. 10 lakh to Rs. 100 lakh for Greenfield enterprises in the non farm sector set up by such SC, ST and Women borrowers. The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Scheme. The Stand Up India Scheme provides for:
• Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs. 10,000 crore.
• Creation of a credit guarantees 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.