India:
USD 320 Million Fund For Start-Ups Agreed By Reserve Bank Of India
07 October 2015
Solomon & Co.
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The Reserve Bank of India has agreed to allot about Rs 2,000
crores (USD 320 million) to a start-up-specific fund in the
2015-2016 financial year. It appears that Small Industries
Development Bank of India and ICICI Bank are contenders to be named
as the nodal bank where the money will be available. However, the
government is expected to include a clause allowing venture funds
which
Originally published in
March 2015 Newsletter.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
draw money from this start-up fund to invest the money only in
Indian registered start-ups.
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