India's National Bank for Agriculture and Rural Development (NABARD) has recently announced for Rs. 700 crore project funds for equity investments in agriculture and rural start-ups. NABARD was used to contribute to other funds but it is for the first time when NABARD launched its own funds. This project was launched by Nabventures, an auxiliary unit of NABARD. NABARD proposed amount of Rs 500 crore with an option to retain over-subscriptions of Rs 200 crore. Company names it green-shoe option. With this initiative NABARD will assist those start-ups who are engaged in agriculture and rural areas' development.
