CURRENT AFFAIRS

Detailed explanation-1: -NBFID: NBFID will be set up as a corporate body with authorised share capital of one lakh crore rupees.

Detailed explanation-2: -It has been set up as a corporate statutory body with authorized share capital of one lakh crore rupees. NaBFID is regulated and supervised as an All India Financial Institution (AIFI) by the RBI under the Reserve Bank of India Act, 1934.

Detailed explanation-3: -NaBFID - All India Financial Institution (AIFI) The National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021 received the assent of the President on March 28, 2021 and has come into force w.e.f. April 19, 2021.

Detailed explanation-4: -The managing director and chief executive officer of India’s National Bank for Financing Infrastructure Development (NaBFID), Rajkiran Rai G, said on Wednesday that the institution may begin disbursing loans from the current financial year (FY23).

Detailed explanation-5: -A target of Rs 1 trillion has been set by the government for the National Bank for Financial Infrastructure and Development (NaBFID) to sanction loans to the country’s infrastructure sector in the upcoming financial year.