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.
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draw money from this start-up fund to invest the money only in Indian registered start-ups.
