National Bank for Financing Infrastructure Development (NABFID)

Subject – Economy

Context – KV Kamath to head NABFID

Concept –

It is a newly set up development finance institution in the country.
The board will comprise 13 members, including a chairman, four whole-time directors and two government nominees. The remaining are expected to be independent directors.
Parliament had, in March this year, passed a Bill to set up NABFID to fund infrastructure projects in the country.
The bank has been set up to support the development of long-term, non-recourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.