Source: The Hindu Business Line, Jul 15, 2018
Kolkata: Food Processing Industries Minister Harsimrat Kaur Badal on Friday said a non-banking finance company (NBFC), to exclusively cater to the needs of the food processing sector, will be operational by the year-end.
The NBFC, which is likely to be named Agro-Processing Financial Institution, would entail an investment of about ₹2,000 crore. The government will pick up 20-per cent entity and invest a seed fund of close to ₹400 crore. The remaining will come from the private sector. “The RFP (Request for Proposal) is likely to be floated by the end of this month. There is a lot of interest from the private sector not just nationally but globally (to invest in the entity). We hope the NBFC would be operational by end of this year,” she told newspersons on the sidelines of an interactive session organised by the Indian Chamber of Commerce here on Friday.