NABARD Makes Rs.45-cr Investment to Promote Technological Innovations in Agriculture
Mumbai: The National Bank for Agriculture and Rural Development (Nabard) made fresh investments aggregating ₹45-crore in three venture capital funds — Avishkar Bharat Fund, Orios Partners and IFMR Fimpact Long-Term Fund in FY18 to promote technological innovations and technology dissemination in the agriculture and rural development sectors.
The agriculture development bank’s total commitments to its portfolio of 15 VCFs rose to ₹263 crore in FY18 as compared with 12 VCFs aggregating ₹218 crore in FY17.
Nabard, in its annual report, said its commitments in VCF resulted in investments to the tune of ₹791 crore (till March-end 2018) as compared with ₹650 crore as at FY17.
The report also said, “Our commitments will have direct or indirect impact on agriculture and rural development. Noteworthy innovations brought about by portfolio companies that will benefit farmers are: solar-operated micro cold storage and solar dryers, bio-stimulants from seaweed, e-dairy farming and smart agriculture technology.”