DFS Secretary launches AIF anchored by Sidbi focussed on investment in climate tech startups

New Delhi, Mar 28 (PTI) Financial Services Secretary M Nagaraju on Wednesday released the first tranche of funds to Avaana Sustainability Fund (ASF) supported by the Green Climate Fund (GCF) and anchored by Sidbi.

ASF, the first Alternative Investment Fund (AIF) to receive the funds, aims to catalyze investments in low-carbon, climate-resilient businesses and climate-tech startups, the Department of Financial Services (DFS) said in a post on X.

Nagaraju lauded the initiative and emphasized the importance of taking the green agenda to rural enterprises, aligning with the vision of Viksit Bharat, it said.

In a separate post on X, DFS said, banks have disbursed loans of over Rs 74,000 crore through PSBLoansIn59Minutes.com so far.

Apply for loans up to Rs 5 crore on http://PSBLoansIn59Minutes.com with just a few clicks and get approval for business, personal, home, or auto in under an hour!, the post said.

By providing quick and accessible credit, this initiative has empowered MSMEs and individuals across India, supporting economic growth and entrepreneurship at the grassroots level, it added.

In another post, it said, DFS Secretary on Tuesday inaugurated the Centre for Financial Services at MDI Gurgaon.

By bringing together global and local stakeholders, the Centre for Financial Services will act as a knowledge hub and bring in thought leadership for the financial services sector as well as strengthen collaboration between academia and industry, it added. PTI DP MR