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Business EconomyPosted at: Oct 15 2016 3:25PM


RS 2,000 cr Credit Guarantee Fund for Startups in offing: DIPP Secy

New Delhi, Oct 15 (UNI) In addition to softening regulations for Start-Ups to further motivate the entrepreneurship, the government would shortly set up a Credit Guarantee Fund with a corpus of Rs 2000 crore to support their ventures and risk taking abilities, said DIPP Secretary Ramesh Abhishek.
Without prescribing any time limit as to when the Credit Guarantee Fund would come about, Mr Ramesh, however, added “With this fund being operational in near future, the Start-Ups could look up for financial assistance for their ventures that would be available easily.”
Elaborating on the issue of softening existing regulations for Start-Ups, the secretary pointed out that DIPP would take up this issue with entities such as RBI, SEBI and Department of Corporate Affairs among others.
Speaking on the occasion, the Minister of State for HRD, Mahendra Pandey also felt that sufficient incentives and motivations should be given to those that wish to set up their venture with the spirit of innovations and also suggested that the spirit of innovations need to be promoted at the basic levels of Indian education system through vernacular mode of communications.

UNI ASH RJ 1526
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