BANKING AFFAIRS

Detailed explanation-1: -The Government of India founded the National Investment and Infrastructure Fund Limited (NIIFL) in February 2015 as a sovereign-anchored fund. Its creation was announced in the Union Budget of 2015-16 by the then Finance Minister Arun Jaitley.

Detailed explanation-2: -NIIF’s first bilateral fund-an “India Japan Fund” with contribution from GoI has been proposed through an MoU between National Investment and Infrastructure Fund Limited (NIIFL) and Japan Bank for International Development (JBIC). The MoU was signed recently on 9th November, 2022.

Detailed explanation-3: -NIIF is a government-backed entity established to provide long-term capital to the country’s infrastructure sector. The Indian government has a 49% stake in NIIF with the rest held by foreign and domestic investors. With the Centre’s significant stake, NIIF is considered India’s quasi-sovereign wealth fund.

Detailed explanation-4: -b)NIIF is a fund for the enhancing infrastructure facility in the countryc)NIIF and NIF (National Investment Fund) are the names of the same organizationd)NIIF can have more than one alternative investment fundCorrect answer is option ‘D’.