Finance Minister Nirmala Sitharaman introduced the National Bank for Financing Infrastructure and Development Bill, 2021 in the Lok Sabha

The National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 introduced in the Lok Sabha on Monday . The bill seeks to establish the National Bank for Financing Infrastructure and Development. The proposed development finance institution (DFI) will get government guarantee support and direct access to liquidity from the Reserve Bank of India, which would help fund about 7,000 infrastructure projects .The DFI was first announced by finance minister Nirmala Sitharaman in the 1 February Union budget. She said that the Institution shall be wholly-owned by the Central Government, to begin with in order to foster confidence in its stability and sustainability and to raise resources at competitive rates.

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