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Development Finance Institutions

Govt notifies NaBFID as a public financial institution under Companies Act

The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act. This will help the government fortify the nation's infrastructure finance structures. In a notification issued on September 10, the Corporate Affairs Ministry said that in exercise of the powers, Section 2 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby notifies National Bank for Financing Infrastructure and Development as a "public financial institution". The move will enhance the bank's capacity to finance large-scale infrastructure projects, thereby bolstering the country's infrastructure development. NaBFID, a specialised Development Finance Institution (DFI), was set up in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021). The Bank was set up with the essential objectives of addressing the gaps in long-term non-recourse

Govt notifies NaBFID as a public financial institution under Companies Act
Updated On : 12 Sep 2024 | 8:06 PM IST

Dalmia Polypro to raise $30 mn from US' DFC to build facility in Maha

The US International Development Finance Corporation (DFC) on Wednesday committed USD 30 million to Dalmia Polypro Industries for building a plastic recycling facility in Maharashtra. Dalmia, which produces high-quality recycled materials from post-consumer plastic waste, will raise the money from external commercial borrowing (ECB) route to fund the new recycling facility in Nashik, DFC said in a statement. It said the new facility will support improvements in India's plastic waste value chain and expand the capacity to reduce plastic waste, DFC's regional managing director for South Asia, Ajay Rao, said. The statement said the facility will have a recycling capacity of 1,71,000 metric tonne per year, and help Dalmia Polypro develop food-grade recycled materials and applications. The facility will produce high quality recycled PET (rPET), PP (rPP) and HDPE (rHDPE) flakes and granules and will be partially powered by renewable energy and biofuel. An agreement for the facility was

Dalmia Polypro to raise $30 mn from US' DFC to build facility in Maha
Updated On : 18 Oct 2023 | 1:44 PM IST

Tata Power's Tamil Nadu solar cell unit gets $425 mn from US govt agency

Investment by Development Finance Corporation will supporting India in its clean energy transition, says Tata Power

Tata Power's Tamil Nadu solar cell unit gets $425 mn from US govt agency
Updated On : 11 Sep 2023 | 11:57 PM IST

US DFC to invest $435 million in Tata Power's green energy subsidiary

The DFC invests in energy, healthcare, infrastructure, agriculture, and small businesses among other sectors

US DFC to invest $435 million in Tata Power's green energy subsidiary
Updated On : 11 Sep 2023 | 12:44 PM IST

The new kid on the infrastructure financing block

NaBFID can support infrastructure projects in three ways: by giving loans, subscribing to bonds and picking up equity stakes

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Updated On : 11 Dec 2022 | 10:30 PM IST

Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman

According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment

Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman
Updated On : 22 Nov 2022 | 7:18 PM IST

Top Headlines: PFC as India's lead DFI; card-on-file tokenisation, and more

The Union power ministry has moved a proposal to grant Power Finance Corporation (PFC) the status of a development financial institution (DFI)

Top Headlines: PFC as India's lead DFI; card-on-file tokenisation, and more
Updated On : 14 Sep 2022 | 7:50 AM IST

Power Ministry pitches PFC as India's lead DFI for energy transition

Power min writes to FinMin, pitching PFC as lead agency for energy transition funding

Power Ministry pitches PFC as India's lead DFI for energy transition
Updated On : 14 Sep 2022 | 6:15 AM IST

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

FSIB recommends former Union Bank of India MD for post of NaBFID MD
Updated On : 14 Jul 2022 | 2:27 AM IST

Centre lures candidates for DFI's top job with hefty pay package

The DFI is preparing to commence its operation in the first quarter of the next fiscal year.

Centre lures candidates for DFI's top job with hefty pay package
Updated On : 10 Mar 2022 | 6:02 AM IST

NaBFID to begin lending operations with 190-200 large projects: Kamath

Last month, the government had announced the appointment of the veteran banker as the chairperson of the newly set up development finance institution

NaBFID to begin lending operations with 190-200 large projects: Kamath
Updated On : 23 Nov 2021 | 5:39 PM IST
Updated On : 27 Oct 2021 | 10:54 PM IST

'Bad bank' and development finance institution are Modi govt's bad legacies

Over years, the two institutions will become agents of uncertainty as the government tries to make them work to avoid adverse criticism.

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Updated On : 20 Sep 2021 | 7:45 AM IST

Best of BS Opinion: Mismanaged coronavirus crisis, oxygen supply, and more

Here are the best of Business Standard's opinion pieces for Friday

Best of BS Opinion: Mismanaged coronavirus crisis, oxygen supply, and more
Updated On : 23 Apr 2021 | 6:30 AM IST

Deja vu - all over again

No credible signs yet of the viability of long-term infrastructure lending in India

Deja vu - all over again
Updated On : 22 Apr 2021 | 11:05 PM IST

Slippery slope

Guaranteeing DFI debt will increase systemic risk

Slippery slope
Updated On : 31 Mar 2021 | 10:45 PM IST

CDC Group partners with Northern Arc Capital for first pooled bond issuance

CDC's investment in the transaction is supported by a partial guarantee provided by Northern Arc

CDC Group partners with Northern Arc Capital for first pooled bond issuance
Updated On : 31 Mar 2021 | 10:03 AM IST

N K Singh bats for health DFI, moving sector to concurrent list

'Health is not part of the concurrent list. In light of the pandemic, it's high time we move health as a subject in the concurrent list,' said N K Singh at an event

N K Singh bats for health DFI, moving sector to concurrent list
Updated On : 27 Mar 2021 | 12:29 AM IST

DFI goes back to the future: Will changes boost infra funding in India?

The Bill suggests that the government has learned from past mistake

DFI goes back to the future: Will changes boost infra funding in India?
Updated On : 26 Mar 2021 | 6:10 AM IST

Finance Bill gives relief on digital tax, provident fund threshold

Tax breaks for DFIs; way for LIC listing cleared

Finance Bill gives relief on digital tax, provident fund threshold
Updated On : 24 Mar 2021 | 1:56 AM IST