New chairperson of NaBFID
GS Paper - 3 (Economy)
The government on 27 October 2021 announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20000 crore National Bank for Financing Infrastructure and Development (NaBFID).
- Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021.
- NaBFID has been supporting the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
- Kamath, the first head of the New Development Bank (NDB) set up by the BRICS group of emerging market economies, had completed his five-year tenure last year.