Apr. 5 : Prime Minister Narendra Modi, who today launched the ‘Stand up India’ scheme, said this initiative will help transform the lives of people belonging to Dalit and tribal communities. Remembering Dalit icon Babu Jagjivan Ram, Prime Minister Modi said, “Today is Jagjivan Ram’s death anniversary.
He never let his Dalit background stop him. That’s why we have chosen this day to launch Stand up India.” “As Agriculture Minister Babu Jagjivan Ram did a lot to usher the green revolution. Whatever one’s party is, we have to remember those who have lived for the nation,” he added.
The Prime Minister pointed out that 1.25 lakh banks will lend loans to 1.25 lakh young people from the marginalised communities under this scheme. “Every branch of every bank will ensure that a woman, a Dalit person or a tribal will be given a loan,” he added.
Stressing that he wants the job seeker in the country to become a job creator, Prime Minister Modi said, “If I could do something with an opportunity, our Dalit brothers, sisters can also do it.”
“They shouldn’t be at anyone’s mercy,” he added. He further said that the ‘Stand up India’ aims to empower every Indian and enable them to stand on their own feet. Urging the E-rickshaw beneficiaries to educate their children particularly the daughters, Prime Minister Modi said the E-rickshaws will be given to those who do not own rickshaws.
The scheme aims at promoting entrepreneurship among the Scheduled Castes, Scheduled Tribes and Women by facilitating loans in the range of 10 lakhs to one crore rupees.
The scheme proposes to leverage the institutional credit structure to reach out to these under-served sectors of the population by facilitating bank loans.
The borrowers will be provided a debit card called RuPay to enable them to withdraw working capital. The government will also through the Small Industries Development Bank of India (SIDBI) open a refinance window with an initial amount of Rs. 10,000 crore.