Fund: The federal government has opened its treasury for agritech startups within the nation. To supply monetary assist to those startups, the federal government has launched an AgriSure Fund of about Rs 750 crore. This won’t solely improve the federal government's funding within the agriculture sector, however non-public corporations may even present curiosity in investing. Together with this, the federal government has additionally launched an Agri Funding Portal to advertise funding within the agriculture sector. It’s being informed that this step of the federal government won’t solely present monetary assist to startups and rural entrepreneurs however may even increase their enterprise.
The federal government won’t let agritech startups face scarcity of funds
Whereas launching the AgriSure Fund, Union Agriculture Minister Shivraj Singh Chauhan stated that the federal government won’t let there be a scarcity of funds for agritech startups. He stated that the agriculture sector wants not solely authorities funding but in addition non-public funding. He stated that funding is required to advertise manufacturing and worth addition within the agriculture sector. Together with this, new experiments are wanted within the agriculture sector. He emphasised on forming teams of small farmers for large-scale farming, defending soil well being together with the utmost use of chemical pesticides and fertilizers.
Private and non-private banks obtained awards
Union Agriculture Minister Shivraj Singh Chouhan additionally highlighted the Agriculture Funding Portal, which is anticipated to remodel the agriculture panorama by centralising funding alternatives and knowledge. He introduced the AIF Excellence Awards to the most effective performing banks and states below varied classes. Among the many public sector banks, State Financial institution of India, Canara Financial institution, Financial institution of Baroda, Indian Financial institution and Punjab Nationwide Financial institution obtained the awards, whereas HDFC Financial institution was awarded as the most effective performing non-public sector financial institution.
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Within the Regional Rural Banks class, Baroda Rajasthan Regional Rural Financial institution, Punjab Gramin Financial institution, Baroda UP Gramin Financial institution, Maharashtra Gramin Financial institution and Sarva Haryana Gramin Financial institution obtained awards for greatest efficiency. Among the many greatest performing states, Madhya Pradesh, Punjab, Uttar Pradesh, Maharashtra, Karnataka, Gujarat and Telangana obtained awards for his or her efficiency below the Agriculture Infrastructure Fund.
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