India, July 22 -- The Government of India issued the following news release:
The Stand-up India Scheme was launched on 05th April, 2016. The objective of the Stand-Up India Scheme was to provide loans from Scheduled Commercial Banks (SCBs) of value between Rs.10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per Bank branch for setting up a greenfield enterprise in manufacturing, services or trading sector and also for activities allied to agriculture.
The Scheme provided loans of value between Rs. 10 lakh and Rs.1 Crore at the lowest applicable rate of the bank for that category (rating), not exceeding base rate MCLR+3%+ Tenor premium, with a repayment period of 7 years wi...