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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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:
Raghav Chadha is a young Indian politician and Chartered Accountant who has made a quick…
India is a country full of rich wildlife and natural beauty. It has hundreds of…
The hockey veteran Mr. Gurbax Singh Grewal was passed away at the age of 84…
Respectable Defense Minister of India Rajnath Singh is set to visit the Bishkek Kyrgyzstan to…
India's veteran player Virat Kohli has become the first batter in the IPL history to…
The US Department of Commerce has announced the preliminary anti-dumping duty on the solar cell…