National Bank for Financing Infrastructure Development (NABFID)
- October 28, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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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.