Modi’s 'Stand up India' scheme to aid SC/ST and women entrepreneurs

PM Modi has launched the 'Stand-up India' scheme, which was announced during his Independence Day speech, in order to boost government's financial inclusion programme. Under the scheme, 1.25 lakh bank branches will provide loans up to Rs 1 crore to SC/ST and women entrepreneurs.

The scheme was launched at a function organised to mark the birth anniversary of dalit leader and former Deputy Prime Minister Babu Jagjivan Ram, where in Modi also flagged off 5,100 e-rickshaws.

While explaining the outlines of Stand-up India programme to people present there, Modi said that the programme will help create 2.5 lakh entrepreneurs throughout the country, given that every bank branch will be required to provide two such loans and that too in the range of Rs 10 lakh to Rs 1 crore without collateral for setting up a new enterprise.

He also stressed that it was not possible for the government to provide jobs to everyone, which is why the scheme seeks to convert "job-seekers into job-creators...This scheme is going to transform the lives of people from dalit and tribal communities."

He added that Stand up India aims to empower every Indian and enable them to stand on their own feet.

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