Union Minister of Agriculture and Farmers’ Welfare and Rural Development will launch the AgriSURE Fund and Krishi Nivesh Portal.
- The event will also feature the conferment of AIF Excellence Awards to top-performing banks and states under the AIF scheme.
About AgriSURE Fund:
- Aim: To boost farm-sector startups and enhance rural enterprises.
- Budget: Announced in the 2022-23 Budget with a total corpus of Rs 750 crore.
- Structure: Category-II Alternative Investment Fund (AIF), offering both equity and debt support.
- Contributions:
- ₹250 Crores from NABARD.
- ₹250 Crores from the Ministry of Agriculture.
- ₹250 Crores from other institutions and private investors.
- Investment Manager: NABVENTURES Ltd., a wholly owned subsidiary of NABARD.
Schemes:
- AgriSURE – FoF Scheme: Provides funding to Category I and Category II AIFs investing in startups.
- AgriSURE – Direct Scheme: Direct equity investment in early-stage startups.
Significance:
- Fosters innovation in agriculture.
- Enhances the value chain of farm produce.
- Creates and improves rural infrastructure.
- Generates employment opportunities.
- Supports and develops IT-based solutions.
About Krishi Nivesh Portal Launch:
- Purpose: Centralized portal for all agricultural investors to access benefits from various government schemes.
Features:
- Integrated platform for seamless access.
- Aims to streamline investment processes in agriculture.
About AIF Excellence Awards:
- Objective: Recognize and appreciate the top-performing banks and states under the AIF scheme.
- Impact:
- Inspires other banks to improve performance.
- Encourages collective achievements and excellence in implementing the AIF scheme.
Challenges Faced by Rural Startups
- Financial Accessibility:
- Reluctance of lending institutions.
- Limited banking services in rural areas.
- Logistical Constraints:
- Difficulty in procuring raw materials and resources due to connectivity issues.
- Technological Barriers:
- Lack of technological awareness.
- Insufficient training programs and services for rural entrepreneurs.
Ref: Source
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Frequently Asked Question:
What is the aim of the AgriSURE Fund and Krishi Nivesh Portal?
The aim is to boost farm-sector startups and enhance rural enterprises by providing support through a total corpus of Rs 750 crore.
What is the budget allocated for the AgriSURE Fund?
The fund was announced in the 2022-23 Budget with a total corpus of Rs 750 crore.
Who are the contributors to the AgriSURE Fund?
Contributions are made by NABARD, the Ministry of Agriculture, and other institutions and private investors, with each contributing Rs 250 crores.
Who is the Investment Manager for the AgriSURE Fund?
NABVENTURES Ltd., a wholly owned subsidiary of NABARD, is the Investment Manager for the AgriSURE Fund.
What are the two schemes under the AgriSURE Fund?
The AgriSURE Fund consists of the AgriSURE – FoF Scheme, which provides funding to Category I and Category II AIFs investing in startups, and the AgriSURE – Direct Scheme, which involves direct equity investment in early-stage startups.