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The sole purpose of Stand Up India Scheme is to promote entrepreneurship amongst women and minority reserved categories.
Stand Up India Scheme was launched by the Ministry of Finance on 5th April 2016 under the leadership of Honourable Prime Minister Narendra Modi. The scheme promotes economic empowerment and job creation.
The scheme’s sole purpose is to promote entrepreneurship amongst women and minority reserved categories — scheduled caste and scheduled tribe (SC/ST). So far, it has provided loans for greenfield enterprises in manufacturing and trading activities aligned with agriculture.
The scheme also aims to encourage all bank branches to extend loans. The desiring applicants can apply under the Stand Up India Scheme by visiting the nearby branch, through the Stand Up India Portal, or with the help of the lead District Manager.
The benefits of the scheme are endless, and it indeed provides financial security along with economic opportunity with low interest and easy return. In the case of non-individual enterprises, 51% of the total stakeholder must be the applicant.
The composite loan inclusive of term loan and working capital is between 10 lakhs and up to 100 lakhs. Composite loan of 85% of the project cost, inclusive of term loan and working capital. The stipulation of the loan being expected to cover 85% of the project cost would apply if the borrower’s contribution along with convergence support from any other schemes exceeds 15% of the total project cost.
The interest rate would be the lowest applicable rate of the bank for the category. The applicant can pay back the loan within years, with a maximum moratorium period of 18 months.
For withdrawal of working capital up to 10 lakhs, the bank is to issue a Rupay Debit Card to the borrower. For working capital limit above 10 lakhs to be sanctioned by way of Cash Credit limit.
The Stand Up India Ecosystem is currently a large network with 100000+ banks, 17000+ helping centres, 193302 sanctioned applications, Rs. 43541.75 sanctioned amount, and 24613 handholding agencies working with the Government of India shaping dreams of a million.
To register, click here.
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UP Boards Topper Prachi Nigam was trolled on social media for her facial hair; our obsession with appearance is harsh on young minds.
Prachi Nigam’s photo has been doing the rounds on social media for the right reasons. Well, scratch that- I wish the above statement were true. This 15-year-old girl should ideally be revelling in her spectacular achievement of scoring a whopping 98.05% and topping her tenth-grade boards. But oddly enough, along with her marks, it’s something else that garners more attention – her facial hair.
While the trolls are driving themselves giddy by mocking this girl who hasn’t even completed her school yet, the ones who are taking her side are going one step ahead – they are sharing her photoshopped pictures, sans the facial hair, looking nothing less than a celebrity with captions saying – “Prachi Nigam, ten years later”.
Doctors have already diagnosed her with PCOD in their comments, based on photographic evidence. While we have names for people shamed for their weight – body shaming, for their skin colour- racism, for their age- age shaming, for being a female- sexism, this category of shaming where one faces criticism for their appearance has no name. With that, it also has zero shame attached to it.
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