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It is to be noted that the bad loan problem in the banking sector is largely because of high exposure of banks towards infrastructure which was facing problems on several counts.
The government is likely to have full ownership of the DFI to start with but over time may offer up to 74% stake to domestic and foreign financial institutions, multilateral lenders and sovereign wealth funds.
Prepared to handle any responsibility given by govt: IIFCL MD New Delhi, Feb 28: Amid the proposed formation of DFI, India Infrastructure Finance Company Limited managing director PR Jaishankar has said the company is prepared to handle any responsibility given by the government. The Union Budget 2021-22 presented in Parliament earlier this month proposed to set up a Development Finance Institution (DFI) with an initial capital of Rs 20,000 crore to fund the Rs 111 lakh crore ambitious National Infrastructure Pipeline (NIP). National Bank for Financing Infrastructure and Development (NaBFID),...
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation
India Business News: To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. Amendments would