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India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years
India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years
Prabhjote GillMar 16, 2021, 16:39 IST
India s Finance Minister Nirmala SitharamanBCCL
The Indian government has given its stamp of approval to set up a new national bank that will fund the country’s long term infrastructure and development projects.
According to
Nirmala Sitharaman, India’s finance minister, the government is hoping that the
Development Fund Institution (DFI) will raise ₹3 lakh crore over the next few years.India’s Finance Minister Nirmala Sitharaman announced that the Indian government has approved the setting up of a Development Fund Institution (DFI). The new national bank will use the markets to raise capital and put those funds into long-term projects.