Govt notifies NaBFID as a public financial institution under Companies Act

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Govt notifies NaBFID as a public financial institution under Companies Act - Business Standard

Quick Summary:

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 government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act.

The move will enhance the bank's capacity to finance large-scale infrastructure projects, thereby bolstering the country's infrastructure development.