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Under govt’s VC scheme for OBCs, 30% beneficiaries will be women

DNMUM415839 | 6/9/2018 | Author : Amrita Madhukalya | WC :300 | India

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New Delhi: The Centre is going to unveil a venture capital fund scheme for other backward classes (OBCs), with women making up 30 per cent of the beneficiaries. The move comes after recommendations by the Group of Secretaries on Education and Social Development, which suggested that venture funds be made available to backward classes, scheduled tribes and minorities. Currently, the Union Ministry of Social Justice and Empowerment has a venture fund scheme for scheduled castes (SCs).
Accepting the recommendations, the government said that since it is permissible under the SEBI regulations, it will extend the benefits to OBCs as well. The fund will be implemented by fiduciary firm Vistra ITCL, formerly the IL&FS Trust Co
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