TDB and BIRAC approved as first fund managers of ₹1 lakh crore RDI Fund
The Technology Development Board and BIRAC have been approved as the first Second-Level Fund Managers of the ₹1 lakh crore Research Development and Innovation (RDI) Fund, with industry project funding to start by the end of January 2026.
Summary
The Research Development and Innovation (RDI) Fund scheme aims to catalyse private sector-led research and innovation with a ₹1 lakh crore corpus. At a review chaired by Science & Technology Minister Dr Jitendra Singh on 19 January 2026, officials said the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) had been approved as the first Second-Level Fund Managers (SLFMs) and would begin funding industry-backed projects by the end of the month. The scheme was approved by the Union Cabinet on 1 July 2025 and rolled out by PM Narendra Modi on 3 November 2025 with guidelines, a call for applications and a portal.
Key facts
- Fund
- RDI Fund, ₹1 lakh crore
- First SLFMs
- TDB and BIRAC
- Funding start
- By end of January 2026
- Cabinet approval
- 1 July 2025
- Rolled out
- 3 November 2025, by PM Modi
Practice MCQs 3 questions
Which two bodies were approved as the first Second-Level Fund Managers under the RDI Fund?
Show answer
Correct answer: A — TDB and BIRAC
PIB (Science & Technology): the Technology Development Board and BIRAC were approved as the first Second-Level Fund Managers under the RDI Fund.
What is the size of the Research Development and Innovation (RDI) Fund meant to catalyse private sector-led research?
Show answer
Correct answer: C — ₹1 lakh crore
PIB (Science & Technology): the RDI Fund is a ₹1 lakh crore initiative to catalyse private sector-led research and innovation.
Consider the following statements about the RDI Fund scheme: 1. It was approved by the Union Cabinet on 1 July 2025. 2. It was formally rolled out by the Prime Minister on 3 November 2025. 3. Funding of industry-backed projects had begun before the end of 2025. Which of the statements given above are correct?
Show answer
Correct answer: B — 1 and 2 only
PIB (Science & Technology): the Cabinet approved the scheme on 1 July 2025 and the PM rolled it out on 3 November 2025; funding of industry-backed projects was to start by the end of January 2026.