Government to Launch AgriSURE

Jul 15, 2024

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Context:

The Government is set to launch a Rs 750 crore Category-II Alternative Investment Fund (AIF) called AgriSURE.

Agri Fund for Start-Ups & Rural Enterprises (AgriSURE):

The fund will provide equity and debt support to start-ups and Agripreneurs working in agriculture and allied sectors.
Aim: To foster innovation and sustainability in India’s agricultural sector

Funding: The fund will be funded equally by:

AgriSURE Greenathon 2024:

NABARD launched the AgriSURE Greenathon 2024, a hackathon to address key challenges in agriculture.
The hackathon focuses on smart agriculture, turning agri-waste into profitable opportunities, and making regenerative agriculture remunerative.

The fund is designed to operate for 10 years, extendable by two or more years.
Managed by NAB VENTURES, a wholly-owned subsidiary of NABARD.
Focus: Innovation in agriculture, enhancing farm produce value chain, creating rural infrastructure, generating employment, and supporting Farmers’Farmers Producer Organiszations (FPOs).
It will encourage IT-based solutions and machinery rental services for farmers.

Alternative Investment Fund (AIF):

It is a privately pooled investment vehicle that collects funds from sophisticated Indian or foreign investors to invest according to a defined investment policy for their benefit.

NABARD:

It is India’s apex development bank, established in 1982 under National Bank for Agriculture and Rural Development Act, 1981.
Aim: To promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.
Based on the B. Sivaraman Committee’s recommendations, it replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of the RBI. As well as the Agricultural Refinance and Development Corporation (ARDC).
Headquarter: Mumbai

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