NABARD-NaBFID MoU to Boost Rural Infrastructure Finance
Why in the news
Two development financiers, NABARD and the National Bank for Financing Infrastructure and Development, joined hands through an MoU for rural infrastructure funding.
Key facts
- Partners: NABARD and NaBFID.
- Scope: rural infrastructure and PPP projects.
- Nature of funds: long-term, competitively priced.
- Goals: more long-term finance, support for commercially viable projects, better connectivity and market access, higher rural incomes.
Focus areas
- Water and sanitation.
- Irrigation.
- Post-harvest storage and cold-chain infrastructure.
- Terminal markets.
- Rural roads and bridges.
- Warehousing.
- Compressed biogas projects.
| NaBFID | Detail |
|---|---|
| Established | 2021, under the NaBFID Act, 2021 |
| Headquarters | Mumbai, Maharashtra |
| Role | India’s Development Finance Institution for infrastructure financing |
| Managing Director | Rajkiran Rai G |
Exam angle
- Full form: NaBFID is National Bank for Financing Infrastructure and Development.
- HQ of NaBFID: Mumbai.
- Managing Director named in the news: Rajkiran Rai G.