Minister for Telecom & IT to Launch Electronics Development Fund (E.D.F.).

 The Department of Electronics and IT (Deity) alongside Canbank Venture Capital Fund will dispatch the Electronics Development Fund (EDF) on February 15. The EDF will give money related help to household organizations in the field of hardware assembling and empower advancement in the part The EDF Policy was reported by Prime Minister Narendra Modi amid the introduction of Digital India Week on July 1 a year ago.

The legislature had selected Canbank Venture Capital Fund Ltd (CVCFL) to house EDF on September 4, 2015. "Division of Electronics and Information Technology and CVCFL will Launch Electronics Development Fund (EDF) on Monday in Mumbai," an announcement from Communications and IT Ministry said.

The EDF is set up as a 'Fund of Funds' to participate in 'Daughter Funds' which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and IT. 

Correspondences and IT Minister Ravi Shankar Prasad will formally report the dispatch with giving over of the letter of duty to the main gathering of Daughter Funds under EDF, the announcement said.

The center of the Daughter Funds would be to create household outline abilities.

The objective recipients of the EDF will be Daughter Funds (set up to accomplish the targets of the EDF arrangement) enrolled in India and maintaining the pertinent standards and regulations including the SEBI regulations on Venture Funds.

The corpus of a Daughter Fund will be dictated by business sector necessities and the limit of its asset supervisor to take into account the prerequisites of the asset. The Daughter Fund will likewise bolster procurement of remote organizations and advances for items imported in India in substantial volume.