The New Development Bank (NDB) has committed to invest USD 100 million (Rs 727.6 crore), into the National Investment and Infrastructure Fund Limited (NIIF) Fund of Funds (FoF). With NDB’s investment, the total commitments secured by the FoF has reached $800 million (about Rs 5,820 crore). This investment marks NDB’s first equity investment into India and its first-ever investment into a Fund of Funds.
WARRIOR 5.0 Batch for SBI, RRB, RBI and IBPS Exams Banking Awareness Online Coaching | Bilingual
Currently, the Government of India (GoI), Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) are the investor in the FoF. Now NDB has joined the group. The FoF was established in 2018 with the objective of providing homegrown Indian private equity fund managers access to an India-focused institutional investor that operates at scale.
Benefits to Indian Economy:
Important takeaways for all competitive exams:
From the sprawling plains of the Midwest to the sun-kissed shores of the Pacific, the…
The Indian political landscape has lost a seasoned leader with the passing of V. Srinivas…
The Badminton World Federation (BWF) has announced that India will host the prestigious 2025 BWF…
In the mosaic of American cities, certain urban centers stand out as bastions of liberal…
In a remarkable achievement, ICICI Bank has etched its name among India's top five companies…
The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, with…