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Minister in Rajya Sabha: Potential conflict of interest in RDI Fund disbursement
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The Indian Express
This came a day after a reply by Science and Technology Minister Jitendra Singh in Rajya Sabha on Thursday indicated the possibility of a potential conflict of interest of members of a selection panel in the disbursement of funds from RDI scheme.
In a written answer in the Rajya Sabha, Science and Technology Minister Jitendra Singh provided a list of seven members of the committee who had personal stakes in these 15 companies that have been among those chosen for receiving money from the RDI Fund.
The RDI Fund is a Rs 1 lakh crore corpus created by the Centre last year to promote research and development activities and innovation in the private sector, particularly in high-priority areas like deep-tech.
The fund is meant to provide long-term low-cost financing to the private sector.
The funds are channelised through what are known as second-level fund managers (SLFMs).