New Delhi: A Strategic Move for NIIF

In a significant development, the Finance Ministry has announced the induction of two distinguished personalities, SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak, into the governing council of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL). This strategic move aims to bolster the council's expertise in guiding the investment of the NIIF corpus, with the approval of Finance Minister Nirmala Sitharaman.

Strengthening Infrastructure Financing

Established in December 2015, the Rs 40,000-crore NIIF serves as a quasi-sovereign wealth fund dedicated to enhancing infrastructure financing. It focuses on investing in greenfield, brownfield, and stalled projects, marking a pivotal step towards infrastructure development in India.

Recent Developments and Future Prospects

In November 2020, the Union Cabinet approved a proposal for a Rs 6,000 crore equity infusion by the government into the NIIF Debt Platform. This initiative, sponsored by the National Investment and Infrastructure Fund, includes Aseem Infrastructure Finance Ltd (AIFL) and NIIF Infrastructure Finance Ltd (NIIF-IFL), signifying a robust commitment to infrastructure growth.