This notification, S.O. 1826(E), issued by the Ministry of Finance, Department of Financial Services on May 19, 2016, formally appoints April 5, 2016, as the commencement date for the Credit Guarantee Scheme for Stand Up India. This scheme, initially outlined in notification S.O. 1499(E) dated April 25, 2016, aims to provide guarantees for loans extended by Scheduled Commercial Banks under the Stand Up India initiative. The notification is issued under the authority granted to the Central Government to enforce this scheme. The responsible officer is Pankaj Jain, Joint Secretary, IFII (F.No.28052016CPIFII).
Key Entities Referenced
Ministry of Finance: The Indian government ministry responsible for financial matters.
Department of Financial Services: A department within the Ministry of Finance.
Credit Guarantee Scheme for Stand Up India: A scheme by the Central Government for providing guarantees to loans extended by Scheduled Commercial Banks under the Stand Up India Scheme
Stand Up India Scheme: A government scheme to promote entrepreneurship among women and Scheduled Castes and Scheduled Tribes.
Scheduled Commercial Banks: Banks included in the second schedule of the Reserve Bank of India Act, 1934
New Delhi: The capital of India and location of the notification.
PANKAJ JAIN: Joint Secretary (Jt. Secy.) at IFII.
April 25, 2016: Date of notification S.O.1499E regarding the Credit Guarantee Scheme for Stand Up India
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2533 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 19th May, 2016
S.O. 1826(E).— Whereas, by a notification of the Ministry of Finance, Department of Financial Services vide
number S.O.1499(E) dated 25th April, 2016, the Central Government made the Credit Guarantee Scheme for Stand Up
India (the Scheme) for the purpose of providing guarantees to loans extended by Scheduled Commercial Banks under the
Stand Up India Scheme and the said Government has been empowered to issue notification in respect of enforcement of
this Scheme;
2. Now, therefore, in terms of the provisions relating to commencement of the said Scheme, the Central
Government appoints the 5th day of April, 2016 as the date on which the said Scheme shall come into force.
[F.No.28/05/2016-CP/IF-II]
PANKAJ JAIN, Jt. Secy. (IF-II)
Explanatory Memorandum: Giving retrospective effect to the commencement of the Scheme will not adversely
affect any person.
Note: The Credit Guarantee Scheme for Stand Up India was published in the Gazette of India, Extraordinary, Part-II,
Section 3 (ii) vide notification number S.O. 1499 (E), dated the 25th April, 2016.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.