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.