Current Context: Uttar Pradesh government has signed a MoU with Small Industries Development Bank of India (SIDBI) to launch Uttar Pradesh ‘Start-Up fund’.
- ‘Start-Up fund’ has been launched under UP Information Technology and Start-up Policy 2017.
- It has been launched with an aim to promote entrepreneurship skills among the youth, to support the registered start-up ventures present in the state of UP and to create job opportunities.
- Initial contribution of Rs 15 crore has been made to the fund by the Chief Minister of Uttar Pradesh.
- The ‘Start-Up fund’ will be in the form of fund of funds and will take part in SEBI approved alternative Investment Funds and would not be directly invested into start-ups.
- The tenure of the fund is 12 years and SIDBI will be acting as its fund manager.
- Static Part:
- CM of Uttar Pradesh: Yogi Adityanath
- Governor of Uttar Pradesh: Anandiben Patel
- National Parks ,Wild Life Sanctuaries and Bird Sanctuaries in UP: Dudhwa National Park & Tiger Reserve, Chandraprabha Wildlife sanctuary, National Chambal Sanctuary, Pilibhit Wildlife Sanctuary, Nawabganj Bird Sanctuary, Okhla Bird Sanctuary, Soor Sarovar Bird Sanctuary, Hastinapur WLS
- Static Part:
- HQ of SIDBI: Lucknow
- Chairman and MD of SIDBI: Mohammad Mustafa
Question:
Q.1 With whom Uttar Pradesh signed MoU to launch ‘Start-Up fund’?
a. Ministry of MSME
b. SIDBI
c. Bank of India
d. Axis Bank
a. Ministry of MSME
b. SIDBI
c. Bank of India
d. Axis Bank
