Karnataka leads in MSME funding from Self-Reliant India fund
Bengaluru: Karnataka has emerged as the top beneficiary of the government's Self-Reliant India (SRI) fund, with 151 investee companies, the highest in India.
According to a reply in the Lok Sabha by Shobha Karandlaje, Minister of State for MSMEs, as cited by Deccan Herald on Friday, the state has outpaced others in benefitting from the fund.
The SRI fund was launched under the Atmanirbhar Bharat initiative in 2020, as part of a Rs 50,000 crore equity infusion for MSMEs through the Fund of Funds. While most states and Union Territories have seen limited participation, Maharashtra follows closely with 144 investee companies. Overall, 577 companies across India have benefited from the SRI fund since its inception.
Under the operationalisation of this central sector fund, sixty daughter funds have been empanelled including Tata Capital, IDBI Capital, SIDBI Venture, ICICI Venture, amongst others, the report added. As of now, Rs 10,979 crore has been invested, assisting 577 companies across the country.
However, approximately 35,567 MSMEs registered on the Udyam Portal have shut down during the current financial year (2024-25), as of February 28. Several factors, including complex and unfavourable policies, shortage of raw materials, and skilled labor, have been cited as contributing to the closures.
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Chennai devotee donates electric bus to TTD in Andhra
Tirupati (PTI): A Chennai-based devotee on Saturday donated an electric bus to TTD, which the temple body promised to utilise for freely ferrying pilgrims.
Vardhaman Jain handed over the keys of the bus to TTD additional executive officer Ch Venkaiah Chowdhary.
"Jain donated an electric bus to TTD on Saturday morning," said an official press release from the temple body.
The donor performed special prayers for the bus in front of the Sri Venkateswara temple.
TTD is the official custodian of Sri Venkateswara Swamy temple, considered the richest Hindu shrine in the world.
