Tuesday, 20 January 2015

Dalit Venture Capital to Aid Entrepreneurs.

The government on Friday launched a Dalit venture capital to encourage entrepreneurship among the scheduled castes.
The “venture capital fund for SCs“ would offer concessional finance to business initiatives of Dalits. Social justice minister Thaawar Chand Gehlot said the fund, with an initial capital of Rs 200 crore, would render an unprecedented help to the community .

According to the scheme, about 30 people would benefit from the financing every year and the loans in each case would go up to Rs 15 crore.

IFCI Ltd will act as sponsor, settler and asset management company (AMC) to operate the scheme. The IFCI Ltd would contribute Rs 50 crore which would comprise Rs five crore as sponsor and Rs 45 crore as investor.

The social justice ministry also launched a `Green Business Scheme' for Dalits aimed at providing financial assistance for business initiatives to help fight climate change. Under the scheme, loans at concessional rate of interest for unit cost up to Rs one lakh would be provided to SCs for starting activities like e-rickshaw, solar pump and solar energy powered implements, polyhouse.

Source::::: The Times of India (Mumbai),Jan 17 2015, p.16

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