{"id":128210,"date":"2021-08-24T17:48:06","date_gmt":"2021-08-24T12:18:06","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=128210"},"modified":"2021-08-26T11:50:24","modified_gmt":"2021-08-26T06:20:24","slug":"fm-launches-ubharte-sitaare-fund","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/fm-launches-ubharte-sitaare-fund\/","title":{"rendered":"FM launches Ubharte Sitaare Fund"},"content":{"rendered":"

Source: <\/b>The Hindu<\/b><\/a><\/p>\n

What is the News?<\/b><\/h5>\n

The Ministry of Finance has launched \u2018Ubharte Sitaare\u2019 <\/span>Alternative Investment Fund.<\/span><\/a><\/p>\n

About \u2018Ubharte Sitaare\u2019 Alternative Investment Fund:<\/b><\/h5>\n
    \n
  1. Aim:<\/b> To provide <\/span>debt and equity funding to export-oriented MSMEs as well as providing them with the required technological support to make their businesses more competitive.<\/span><\/li>\n
  2. Setup by:<\/b> The fund has been set up jointly by Exim Bank and SIDBI (Small Industries Development Bank of India).<\/span><\/li>\n<\/ol>\n
    Objectives of the Fund:<\/b><\/h5>\n
      \n
    1. To enhance India\u2019s competitiveness <\/b>in select sectors through finance and extensive handholding support<\/span><\/li>\n
    2. To identify and nurture companies <\/b>having differentiated technology, products or processes, and enhance their export business;<\/span><\/li>\n
    3. To assist units with export potential <\/b>which are unable to scale up their operations for want of finance;<\/span><\/li>\n
    4. To identify and mitigate challenges <\/b>faced by successful companies which hinder their exports;<\/span><\/li>\n
    5. To assist existing exporters<\/b> in widening their basket of products and target new markets through a strategic and structured export market development initiative.<\/span><\/li>\n<\/ol>\n
      Key Features of the Fund:<\/b><\/h5>\n
        \n
      1. The fund will support <\/b>Indian companies that are future champions with good export potential. It can be supported even if it is currently underperforming or may be unable to tap its latent potential to grow.<\/span><\/li>\n
      2. Eligibility: <\/b>Companies will be selected for support based on their\u00a0<\/span>\n
          \n
        1. unique value proposition in technology<\/span><\/li>\n
        2. products or processes that match global requirements;<\/span><\/li>\n
        3. fundamentally strong companies with acceptable financials<\/span><\/li>\n
        4. small and mid-sized companies with an annual turnover of up to approx.\u20b9500 crore<\/span><\/li>\n
        5. companies with a good business model.<\/span><\/li>\n<\/ol>\n<\/li>\n
        6. Nature of assistance: <\/b>The fund can support companies by both financial and advisory services through support by way of:<\/span>\n