DFI employees may get shield against 'ill-informed' probe, prosecution

The government expects the DFI to finance a large percentage of the Rs 115-trillion spending needed for the National Infrastructure Pipeline

The central government will exempt the proposed development finance institution (DFI) employees from what it called ‘ill-informed prosecution and investigation’, offering them protection from both the Central Bureau of Investigation (CBI) and the Enforcement Directorate. 

A government source said the Bill being vetted by the law ministry will also offer upfront government support, if necessary, to the institution to hedge its foreign money-raised loans. 

Significantly the Bill being framed by the Department of Financial Services (DFS) shall be an omnibus one, more like the Banking Regulation Act of 1949 rather than the Life Insurance Corporation Act, 1956. This means the