CAPF AC 2022 Q67: Indian Economy – Digital Payments & Financial Inclusion
The ‘Stand-Up India Scheme’ is related to which one of the following issues?
- (a) Social security during old age
- (b) Providing technical know-how to young, educated or skilled workers from rural areas
- (c) Promoting entrepreneurship amongst women, SC and ST communities
- (d) Insurance cover to people in the age group of 18-50 years
Answer: (c) Promoting entrepreneurship amongst women, SC and ST communities
Explanation
Stand-Up India Scheme
How to think: the name says it helps people stand up on their own.
It gives bank loans to women and SC/ST entrepreneurs to start a new business.
| Fact | Detail |
|---|---|
| Launched | 5 April 2016 |
| For | Women, Scheduled Castes and Scheduled Tribes |
| Loan | ₹10 lakh to ₹1 crore |
| Rule | At least one SC or ST borrower and one woman borrower per bank branch |
| Purpose | A greenfield (first-time) enterprise in manufacturing, services, trading or allied farm activities |
Which schemes the other options describe:
| Option | Scheme |
|---|---|
| Social security in old age | Atal Pension Yojana |
| Insurance for the age group 18 to 50 | Pradhan Mantri Jeevan Jyoti Bima Yojana |
| Skills for rural youth | Deen Dayal Upadhyaya Grameen Kaushalya Yojana |
Answer: (c).
Why each option is right or wrong
- (a) Incorrect. Old-age security is the aim of the Atal Pension Yojana.
- (b) Incorrect. Skill training for rural youth comes under DDU-GKY and Skill India.
- (c) CORRECT. Stand-Up India promotes entrepreneurship among women, SCs and STs.
- (d) Incorrect. Life cover for ages 18 to 50 is the Jeevan Jyoti Bima Yojana.
Key point
Stand-Up India (2016): loans of ₹10 lakh to ₹1 crore to SC, ST and women for greenfield enterprises. Start-up India (2016): tax and regulatory support for start-ups. MUDRA (2015): loans up to ₹10 lakh (now ₹20 lakh) for micro units.
Remember
Stand-Up India: ₹10 lakh to ₹1 crore for SC, ST and women.
Common mistakes
- Mixing up Stand-Up India with Start-up India.
- Confusing it with MUDRA, which gives smaller loans to all micro units.
- Thinking it is a skill-training scheme rather than a loan scheme.
Exam tip
Educated guess: stand up suggests lifting groups that have been held back. The only option about disadvantaged groups starting businesses is (c).
Sources
- Department of Financial Services, Ministry of Finance — Stand-Up India Scheme
- Press Information Bureau, Ministry of Finance — Stand-Up India Scheme completes six years (April 2022)