New Bad Bank to be set up within a month or two, says Financial Services Secy The New Development Finance Institution announced by the finance minister will be called the 'National Bank for Financing, Infrastructure and Development', Financial Services Secretary Debashish Panda said. February 02, 2021 / 06:01 PM IST The new 'Bad Bank', as announced by Finance Minister Nirmala Sitharaman in Union Budget 2021-22, would be set up "within the next one or two months", Financial Services Secretary Debashish Panda said on February 2. The new Development Finance Institution (DFI) announced by the finance minister will be called the 'National Bank for Financing, Infrastructure, and Development', Panda told