Section 5

5. Accordingly, it is proposed to bring a legislation, namely, the National Bank for Financing Infrastructure and Development Bill, 2021 which seeks to provide, inter alia, for the following:— (i) to establish a statutory Institution to be called the National Bank for Financing Infrastructure and Development to support the development of long-term infrastructure financing in India and to carry on the business of financing infrastructure; (ii) to enable the Central Government, multilateral institutions, sovereign wealth funds, and such other institutions to hold equity in the Institution; (iii) to enable the Institution to provide financial assistance to infrastructure projects located in India, or partly in India and partly outside India; (iv) to enable the Institution to borrow or raise money by way of loans or otherwise, both in rupees and foreign currencies; (v) to provide adequate safeguards for decision making to address risk aversion; and (vi) to make provision for the establishment of other development financial institution, in addition to the Institution established under the proposed legislation.