 "Arun Jaitley")
A special purpose vehicle (SPV) for the credit enhancement fund with respect to infrastructure projects has been delayed because of differences between Indian Infrastructure Finance Company Ltd (IIFCL), the principal promoter, and the Reserve Bank of India (RBI), the regulator, over the governing guidelines.
The economic affairs secretary had a meeting with the RBI and IIFCL on this last week.
The SPV has been in the making since February last year, when Union Finance Minister Arun Jaitley proposed it in his Budget speech as part of measures to promote the corporate bond market.
The differences between IIFCL and the RBI pertain to
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