National Institute of Entrepreneurship and Small Business Development has signed an MoU with which of the following to develop a sustainable model for promoting entrepreneurship at the grassroots?

National Institute of Entrepreneurship and Small Business Development has signed an MoU with which of the following to develop a sustainable model for promoting entrepreneurship at the grassroots? Correct Answer Ministry of Rural Development

The correct answer is Ministry of Rural Development.

Key Points

  • National Institute of Entrepreneurship and Small Business Development (NIESBUD) has signed an MoU with the Ministry of Rural Development (MoRD).
  • It will develop a sustainable model for promoting entrepreneurship at the grassroots by initiating the Start-up Village Entrepreneurship Programme (SVEP).
  • SVEP is a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission.

Important Points

  • The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilized.
  • Under the partnership, rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank.
  • Integrated ICT techniques and tools will also be provided for training and capacity building along with enterprise advisory services to augment the entrepreneurship ecosystem in India’s villages.
  • The beneficiaries of the project are from the Self-Help Group (SHG) ecosystem of DAY-NRLM and the scheme not only supports existing enterprises but new enterprises as well.

Related Questions

The Indian Institute of Entrepreneurship (IIE) signed a Memorandum of Understanding (MoU) with which of the following to promote entrepreneurship at a local level amongst the rural youth?