NABARD – SDC RURAL INNOVATION FUND (RIF) was started to facilitate the innovative streak of rural India
The fund managed by The National Bank for Agriculture and Rural Development gives grants and funding to innovative ideas which have commercial and social benefits. A description of some of the most recently funded projects during this year can be found in the pdf document below. Some of the projects which got funding involve cultivation of neem,tea,mushrooms and several renewable energy projects.
Any Indian citizen can avail funding from the Rural Innovation Fund by applying in the prescribed form as given on the Nabard website.A maximum funding of upto Rs 30 lakhs is provided by Nabard per project on approval.
What is RIF ?
Rural Innovation Fund (RIF) is a fund designed to support innovative, risk friendly, unconventional experiments in Farm, Non-Farm and micro-Finance sectors that would have the potential to promote livelihood opportunities and employment in rural areas.
Frequently Asked Questions about Rural Innovation Fund
What are the guiding principles for operations of RIF ?
The guiding principles for the operations of RIF are broadly as indicated below: The activities must have the rural poor in their focus and must be innovative, experimental and demonstrative in nature leading to replicability and commercial viability.
The activities funded may involve development of new products, processes, prototypes, technology, patenting and extension support. Appropriate action research and studies contributing to better understanding of rural development issues, policy and process implementation may be undertaken.
Rest of the Questions