NaBFID to Become Infrastructure Development Bank
Why in the news
NaBFID is set to become the Infrastructure Development Bank (IDB) as part of a drive to be seen as a worldwide development lender.
Key facts
- Rebranding should raise international recognition, draw global investors and ease partnerships with multilateral and development finance bodies.
- Branding had been deferred so operations could begin quickly.
| Item | NaBFID profile |
|---|---|
| Law | NaBFID Act, 2021 (passed March 2021) |
| Type | Development Finance Institution |
| Headquarters | New Delhi |
| Ownership | Government-owned |
Mandate
- Long-term infrastructure finance, bond market development and private investment promotion.
Exam angle
- New name: Infrastructure Development Bank.
- Operational since April 2022.