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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.