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Published on 1/02/2021 1:22:53 PM | Source: IANS

Infra push: Development Financial Institution proposed to fund projects

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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 till the next three years.

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