Which of the following statements is/are correct about the Stand-up India Scheme?

1. It aims at promoting entrepreneurship among women, scheduled castes & tribes and other backward classes.

2. This enterprise may be in manufacturing, services or the trading sector.

Select the correct answer using the code given below:

The Stand-up India Scheme aims at promoting entrepreneurship among women and scheduled castes tribes. The Scheme is anchored by the Department of Financial Services (DFS), Ministry of Finance, Government of India.

The Stand-Up India Scheme facilitates bank loans between Rs. 10 lakh and Rs. 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one-woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.

Eligibility

• SC/ST and/or woman entrepreneurs, above 18 years of age.

• Loans under the Scheme are available for only greenfield project. Greenfield signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.

• In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either an SC/ST and/or women entrepreneur.

• The borrower should not be in default to any bank/financial institution.