SIDBI sanctions to startups crosses ₹1,112 crore this fiscal
The SIDBI has sanctioned ₹300 crore to fund managers for investing in startups, taking the total sanctions this fiscal to over ₹1,112 crore. During fiscal years 2014-15 and 2015-16, sanctions made were ₹314 crore and ₹607 crore respectively. In 2016, the Cabinet approved setting up of a ‘Fund of Funds for Startups’ with a corpus of ₹10,000 crore at SIDBI.