CURRENT AFFAIRS

Detailed explanation-1: -The New Development Bank (NDB) has committed to invest USD 100 million (Rs 727.6 crore), into the National Investment and Infrastructure Fund Limited (NIIF) Fund of Funds (FoF).

Detailed explanation-2: -49% share is held in the National Investment and Infrastructure Fund by the Indian Government. Some of the domestic investors of NIIF are HDFC Bank, Axis Bank, ICICI Bank, and Kotak Mahindra Life. In June 2018, the Asian Infrastructure Investment Bank announced to invest an amount of USD 200 million in the NIIF.

Detailed explanation-3: -Investors in the Fund Domestic Institutional Investors (DIIs) such as HDFC group, ICICI Bank, Kotak Life and Axis bank are also contributors in NIIF’s Master Fund. In June 2018, Asian Infrastructure Investment Bank announced investment of $200 million in NIIF’s Fund of Funds.

Detailed explanation-4: -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-5: -Nirmala Sitharaman chaired the 5th meeting of the Governing Council (GC) of National Investment and Infrastructure Fund (NIIF), in New Delhi, yesterday (17th Nov. 2022) late evening.