Consider the following statements:1.Fund of Funds for Startups (FFS) Scheme facilitates the startups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees. 2.Credit Guarantee Scheme for Startups (CGSS) is aimed at providing credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance DPIIT recognised startups.Select the correct statements using the codes given below:

Q. Consider the following statements:
1.Fund of Funds for Startups (FFS) Scheme facilitates the startups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees.
2.Credit Guarantee Scheme for Startups (CGSS) is aimed at providing credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance DPIIT recognised startups..
Select the correct statements using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. FFS Scheme was established with a corpus of Rs. 10,000 crores, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.

Statement 2 is correct. CGSS is aimed at providing credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance DPIIT recognised startups.

Source: ForumIAS

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