The government announced the appointment of veteran banker K. V. Kamath as chairperson of the newly set up ₹20,000-crore National Bank for Financing Infrastructure and Development (NaBFID).
Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
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"New approach to building #AatmaNirbharBharat!Central Government has appointed Shri K. V. Kamath to the post of Chairperson, National Bank for Financing Infrastructure and Development, a newly set up DFI in India," Department of Financial Services (DFS), under the finance ministry, tweeted.
Mr. Kamath, the first head of the New Development Bank set up by the BRICS group of emerging market economies, had completed his five-year tenure last year.