Recently the government has appointed KV Kamath as the chairman of (National Bank for Financing Infrastructure and Development) NBFID. NBFID was set up as the premier development financial institution (DFI) for infrastructure financing.
- DFIs provide long-term finance for sectors where the risks involved exceed the acceptable limits of commercial banks and other general financial institutions.
- NBFID (National Bank for Financing Infrastructure and Development) was set up as a corporate body. Its authorized share capital is one lakh crore rupees. Its objectives are both financial and developmental.
- No investigation can be initiated against the employees of NBFID without the prior approval of the Central Government (in the case of the Chairman or other directors) and the Managing Director (in the case of other employees).
Source – The Hindu