Business & Economy
Infra push: Development Financial Institution proposed to fund projects
New Delhi, February 1, 2021
To give a push to infrastructure creation and reviving the economy, Finance Minister Nirmala Sitharaman on Monday proposed to set up a Development Financial Institution (DFI).
The Finance Minister proposed to create the DFI -- National Bank for Financing Infrastructure and Development (NaBFID) -- via a parliamentary bill.
Accordingly, the DFI will be formed with a seed capital of Rs 20,000 crore.
According to the FM, the DFI is expected to give a massive lending push worth around Rs 5 lakh crore in the next three years.