Question
Download Solution PDFWho was appointed as the Chairman of National Bank for Financing Infrastructure and Development (NaBFID) in October 2021?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is KV Kamath
Key Points
- KV Kamath was appointed as the Chairman of the National Bank for Financing Infrastructure and Development (NaBFID) in October 2021.
- NaBFID is a newly established development financial institution (DFI) aimed at addressing the infrastructure financing needs of the country.
- KV Kamath is a well-known figure in the banking and financial sector, having previously served as the CEO and Managing Director of ICICI Bank.
- He has also played a significant role in the development of financial institutions in India and has held various prestigious positions, including the President of the New Development Bank (NDB) set up by BRICS nations.
Additional Information
- NaBFID was established in 2021 under the National Bank for Financing Infrastructure and Development Act, 2021.
- The institution aims to catalyze investment in the infrastructure sector, which is crucial for the economic development of India.
- It will provide long-term finance for infrastructure projects, which typically have long gestation periods and require substantial capital.
- The establishment of NaBFID is part of the Indian government's broader strategy to boost infrastructure development and attract private sector investment.
- KV Kamath's appointment is expected to bring valuable expertise and leadership to the institution, given his extensive experience in the financial sector.
Last updated on Jul 1, 2025
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