Union Finance Minister Nirmala Sitharaman on March 22, 2021 introduced ‘The National Bank for Financing Infrastructure and Development Bill, 2021’ in the Lok Sabha .
- The bill provides for establishment of the National Bank for Financing Infrastructure and Development (NaBFID) to support the infrastructure financing in India.
- This includes development of bonds and derivatives markets which are necessary for infrastructure financing.
- The National Bank for Financing Infrastructure and Development will be set up with a paid up capital of Rs. 20,000 crore and the government will give an initial grant of jRs. 5,000 crore.
- The Government of India expects the DFI to leverage the fund to raise up to Rs 3-lakh crore in the next few years.
(Source: AIR)
