The government has established Credit Guarantee Fund for the Stand Up India Scheme to promote entrepreneurship among SC, ST and Women entrepreneurs. The decision was taken by the union cabinet today in this regard. <br/><br/>Addressing media persons in New Delhi, Finance Minister Arun Jaitley said, under the scheme every branch of every bank will fund at least two persons, one in SC, ST category and another women entrepreneurship. He added that for setting up Greenfield projects the beneficiary will get the loan from Rs 10 lakh to Rs 1 crore. <br/><br/>Under the scheme, around 2.5 lakh borrowers are expected to be benefited. The loan under the scheme would be appropriately secured and backed by a credit guarantee for which Department of Financial Services would be the settler and National Credit Guarantee Trustee Company Ltd. NCGTC would be the operating agency. The Start up India Stand up India initiative was announced by the Prime Minister in his address to the nation on 15th August, last year.