Centre appoints two of its nominees on the board of govt-owned DFI

Addl Secy at Department of Financial Services, Pankaj Jain and Addl Secy at DPIIT Sumita Dawra have been nominated as directors on the board of NaBFID

The Centre has appointed its two representatives on the board of National Bank for Financing Infrastructure and Development (NaBFID) as it looks to make the Development Finance Institution (DFI) functional soon.

Additional Secretary at the Department of Financial Services (DFS) Pankaj Jain and Additional Secretary at Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra have been nominated as directors on the board of directors of NaBFID, according to a notification.

Last month, the government had appointed K.V. Kamath as the chairman of the DFI as it looks to make the body functional that would help in supporting infrastructure-led growth as the economy looks to recover from the impact of the Covid-19 pandemic.

The DFI would have a chairman, two government nominees, and four whole-time directors. Wholetime directors will include a chief executive officer and three other members.

The interim board of the institution would also undertake the selection process of chief executive officer (CEO) and deputy CEO.

The government plans to make the DFI operational in December.