Finance Minister Nirmala Sitharaman on Tuesday chaired the governing council meeting of the National Investment and Infrastructure Fund (NIIF).
The NIIF is a fund manager that invests in infrastructure and related sectors in the country.
"Finance Minister Smt. @nsitharaman chaired the Governing Council meeting of National Investment and Infrastructure Fund (NIIF) in North Block today. Minister of State for Finance and Corporate Affairs Shri @ianuragthakur was also present," the finance ministry said in a tweet on Tuesday.
The NIIF is operationalised by establishing three alternative investment funds (AIFs) under the Sebi regulations. The proposed corpus of NIIF is Rs 40,000 crore (around USD 6 billion).
The Government of India's contribution to the AIFs under the NIIF scheme is 49 per cent of the total commitment.
The NIIF has mandate to solicit equity participation from strategic anchor partners, such as overseas sovereign, quasi-sovereign, multilateral or bilateral investors.
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