- Secretary, the Ministry of MSME presided over BizAmp, an outreach programme organized by the Ministry of MSME.
- It was organized in association with NSIC Venture Capital Fund Limited (NVCFL) under its Self Reliant India (SRI) Fund.
Aim:
- The programme, aimed at empowering MSMEs from the North Eastern States and amplifying their businesses utilizing benefits under SRI Fund.
- BizAmp is the first outreach programme in the North East Region of the country focused upon maximizing capital benefits.
- It served to provide a platform for the empaneled daughter funds of SRI Fund to reach the MSMEs in the NE Region of India.
SRI Fund:
- The Government of India, launched SRI Fund with an outlay corpus of Rs 10,006 crore.
- It is concentrated towards financing an infusion of capital to MSMEs through Daughter Funds.
- Daughter funds works with Venture capitalist to create funds.
- It provides risk capital to companies developing new technologies.
- The SRI fund is an Alternative Investment Fund (AIF) providing growth capital to MSMEs through equity/quasi-equity/equity-like structured instruments.
SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB