India's Department for Promotion of Industry and Internal Trade has formally notified the Rs 10,000 crore Startup India Fund of Funds 2.0, a government-backed vehicle structured to channel capital into deep-tech startups, early growth-stage companies, and tech-driven manufacturing ventures. The fund operates as a fund-of-funds, deploying into SEBI-registered Alternative Investment Funds rather than directly into companies, which preserves market allocation while giving government capital a catalytic role. FoF 2.0 is divided into four segments: deep-tech, micro VCs targeting early growth-stage startups, tech-driven manufacturing, and sector-agnostic funds. Its predecessor, FFS 1.0, launched under SIDBI in 2016, has backed over 1,370 startups through the same AIF-routing mechanism. The new fund will invest exclusively in equity and equity-linked instruments of government-recognised startups. DPIIT will issue detailed operational guidelines covering eligibility, fund selection, disbursal mechanics, and reporting standards; a committee chaired by the DPIIT Secretary will oversee performance. Watch for the operational guidelines, which will determine which AIF managers qualify and ultimately set the pace of capital deployment into priority sectors.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
