National Bank For Financing Infrastructure And Development (NBFID) Bill, 2021:
The Rajya Sabha cleared the National Bank for Financing Infrastructure and Development (NBFID) Bill, 2021.
- The Bill seeks to establish the National Bank for Financing Infrastructure and Development (NBFID) as the principal Development Financial Institution (DFIs) for infrastructure financing.
- NBFID was announced in the Budget 2021.
- NBFID will be set up as a corporate body with an authorized share capital of one lakh crore rupees.
- To directly or indirectly lend, invest, or attract investments for infrastructure projects located entirely or partly in India.
- Includes facilitating the development of the market for bonds, loans, and derivatives for infrastructure financing.
- Functions of NBFID:
- Extending loans and advances for infrastructure projects.
- Taking over or refinancing such existing loans.
- Attracting investment from private sector investors and institutional investors for infrastructure projects.
- Organizing and facilitating foreign participation in infrastructure projects.
- Facilitating negotiations with various government authorities for dispute resolution in the field of infrastructure financing.
- Providing consultancy services in infrastructure financing.