Jitendra Singh outlines safeguards for India's RDI Fund

Science and Technology Minister Jitendra Singh chaired a monthly joint meeting of Science Secretaries to discuss the Research Development and Innovation (RDI) Fund. Singh emphasized that the fund operates under a shared responsibility model and utilizes stringent safeguards and a ‘Conflict of Interest’ policy to protect both taxpayer money and private capital.

Officials reported that protocols are in place to ensure transparency, fairness, and accountability in fund disbursement. While some selected firms have already received RDI funds, the process for the remaining firms is currently underway and expected to be completed shortly. Additionally, the selection and announcement of Second-Level Fund Managers (SLFMs) is in progress, with completion anticipated within approximately two weeks. These managers will be responsible for identifying deserving companies and managing investments through a transparent onboarding process.