National Bank for Financing Infrastructure and Development (NaBFID)

WHY IN THE NEWS?

The National Bank for Financing Infrastructure and Development (NaBFID) is likely to begin lending operations with loans to about 190-200 projects in the railways, roads and energy sector.

• The aim is to catalyse investment in the fund-starved India’s infrastructure sector.

What is the National bank of financing infrastructure and development or NaBFID?

• It is a development financial institution for funding infrastructure projects in India. 
• It is answerable to the parliament and submits audited accounts every year. 
• It is outside the purview of CBI, CVC and CAG to enable faster decision-making.