Question
With reference to the Funds for Startups (FFS) Scheme,
consider the following statements: I. The Ministry of Finance is the operating agency for FFS. II. Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency of Funds for Startups (FFS) Scheme. III. It aims to make capital available for startups at an early stage only. Which of the statements given above is/are correct?Solution
Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency. Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. It has not only made capital available for startups at early stage, seed stage and growth stage but also played a catalytic role in facilitating raising of domestic capital, reducing dependence on foreign capital and encouraging home grown and new venture capital funds.
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