Categories: Banking

NaBFID to be regulated as AIFI under RBI Act

Reserve Bank of India has announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised by it as an All India Financial Institution (AIFI) under the RBI Act, 1934. NaBFID will be regulated and supervised by RBI as an AIFI under Sections 45L and 45N of the Reserve Bank of India Act, 1934.

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Presently RBI has four AIFIs under it namely EXIM Bank, NABARD, NHB and SIDBI. NaBFID will be the fifth AIFI under RBI. NaBFID has been set up as a Development Financial Institution (DFI) to support the development of long-term infrastructure financing in India.

Important takeaways for all competitive exams:

Chairman of NaBFID: KV Kamath.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.