Government plans to set up development finance institution in 3-4 months: DFS secretary
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This story is from December 22, 2020
Government plans to set up development finance institution in 3-4 months: DFS secretary
PTI / Dec 22, 2020, 21:12 IST
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(Representative image)
NEW DELHI: The government plans to set up a Development Finance Institution (DFI) in the next three to four months with a view to mobilise Rs 111 lakh crore required for funding of the ambitious national infrastructure pipeline, according to financial services secretary Debasish Panda. We need a development financial institution as infra financing needs patient capital, and banks are currently not suited for lending for long term projects which do not generate any cash for years, he told PTI in an interview.
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Proposed DFI should mobilise global funding for infrastructure projects, says SBI chief Dinesh Khara
Given the huge requirement of funds for infrastructure development, foreign funds would be required very much, he noted.
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NEW DELHI: The proposed development finance institution (DFI) should attract foreign capital to fund infrastructure spending rather than following the old model of government support for sustenance, State Bank of India (SBI) Chairman Dinesh Khara said on Tuesday.
The government is actively considering setting up a DFI to meet the financing needs of the infrastructure sector, which according to the National Infrastructure Pipeline requires massive funding of Rs 111 lakh crore over the next five-year period ending 2024-25.