P Chidambaram at Dalit SME Fund Launch
Mumbai / June 6 2013 Let every bank branch hand hold a Dalit entrepreneur – Chidambaram Union Finance Minister Mr P Chidambaram today launched India’s first SEBI registered social impact fund – the DICCI SME Fund at a function in Mumbai. The venture capital fund, initiated by the Dalit Indian Chamber of Commerce & Industry, aims to raise Rs 500 crores over 10 years and finance Dalit entrepreneurs to set up their businesses. The fund was launched with an initial contribution of Rs 10 crores by the Small Industries Development Bank of India, SIDBI “It is a modest beginning, all path breaking projects begin on a modest scale, I am sure, one day this will grow into a massive tree” said Chidambaram, highlighting that the first Dalit Fund will go a long way in creating social equity. “The fact that the first Dalit Fund is being launched at the iconic ball room of the historic Taj Mahal hotel in the country’s financial capital is very significant” he added. ...