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    Funds for Startups
    Cabinet allows M/s. ITI Limited to transfer shares to Special National Investment Fund to meet SEBI’s minimum public shareholding requirement
    Shri Arjun Ram Meghwal takes over as New Minister of State for Finance and Corporate Affairs
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July 22, 2016
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Fund of Funds for Startups to channel capital through SEBI-registered AIFs and mobilise private risk capital for startups.
Government established a Fund of Funds for Startups to be deployed through an implementing agency, with initial budgetary allocations released and further amounts earmarked. The Fund will not invest directly in startups but will subscribe to SEBI-registered Alternate Investment Funds, using that channel to attract private equity, quasi-equity, soft loans and other risk capital into a sector-agnostic startup ecosystem.
July 13, 2016
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Minimum public shareholding requirement: transfer of government-held shares to SNIF to restore public float and meet SEBI deadlines.
Approval permits transfer of government-held shares in M/s ITI Limited to the Special National Investment Fund concurrent with capital grant equity infusion under the revival plan, as an administrative mechanism to restore the public float and achieve compliance with SEBI's minimum public shareholding requirements within the prescribed timeframe.
July 6, 2016
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Financial inclusion and social security focus - new minister commits to extending PMJDY and Mudra benefits to last-mile recipients.
Policy priorities emphasised by the new Minister of State for Finance and Corporate Affairs focus on financial inclusion and the extension of social security measures through existing programmes, specifically naming PMJDY and Mudra, with the operational aim of delivering benefits to the last mile and accelerating growth to benefit poor and vulnerable sections.

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Acts Income Tax