Are there enough guardrails for one lakh crore rupees of your money being given to private companies as soft loans? A day later, it released a reiteration of its rules, which involve the disclosure and recusal of a panel member linked to a firm being considered for investment. Nearly two-thirds or 62 per cent of over Rs 2,000 crore was lent to companies which had ties to members on the panel that decided where the money went. India’s new deep tech innovation fund gave Rs 2,192 crore to 22 firms in its first round, covering space tech, energy and pharma sectors. We found 15 of 22 recipients have investment ties to seven selection panel members, totalling over Rs 1,377 crore.