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DFI likely to be set up with IIFCL's paid-up capital of Rs 10,000 crore

To have lower minimum capital adequacy ratio than NBFCs; IIFCL to clean up its Rs 4,500-crore bad loans

Topics
IIFCL | Reserve Bank of India | banking regulation

Shrimi Choudhary  |  New Delhi 

A new government-owned development finance institution (DFI) is likely to be set up with India Infrastructure Finance Company’s (IIFCL’s) paid-up capital of Rs 10,000 crore and an equivalent amount from budgetary support. It may have a lower minimum capital adequacy ratio of 9 per cent, compared to 12-15 per cent for non-banking financial companies.

The Reserve Bank of India (RBI) Act and the Banking Regulation Act may be amended to set up the DFI for enabling it access to a line of credit, according to the draft Cabinet note, said sources. With an initial capital ...

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First Published: Mon, February 08 2021. 06:10 IST
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