RDIF AIF selection expected to be completed in two weeks
The government is in the final stages of choosing alternative investment firms for the research fund, with the decision expected to wrap up in the coming fortnight. Meanwhile, funds are actively being allocated to other selected firms for investment purposes. Robust safeguards are implemented to ensure protection for both public and private capital, reinforcing transparency and accountability in…
Bengaluru: The government is set to finalize the selection of alternate investment firms (AIF) for the research, innovation and development fund (RDIF) within the next two weeks, according to Jitendra Singh, minister of state for science and technology. Singh disclosed this during a monthly review meeting of science secretaries on August 19.
The selection process, stated Singh, is being carried out transparently, ensuring fairness and equal responsibility. Apart from a fund for secondary level fund managers, the government is also in the process of disbursing funds to the remaining selected AIFs. This announcement comes in the wake of a recent report by Economic Times, which highlighted the delay in RDIF disbursement, leaving investors in a predicament.
This delay is adversely affecting their fundraising process and ability to invest in startups. Singh also emphasized that the RDIF Conflict of Interest policy is safeguarded by stringent measures to protect taxpayer money and private capital. He further mentioned that stringent protocols are being adhered to for both fund disbursement and conflict-of-interest safeguards, given that the RDI Fund involves public money.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
