Economy

Set up dedicated bank for infra financing: Assocham tells FinMin

| Updated on: Jun 24, 2014

The Narendra Modi-led Government should set up a dedicated bank for infrastructure financing, industry body Assocham has suggested.

In a letter to Finance Minister Arun Jaitley, the chamber said infrastructure development needed to be promoted in a big way to spur economic growth.

For this to happen, institutional support to finance the projects is key.

It said although banks had aggressively lent to this sector during the past 10 years, such institutions faced several issues of their own in meeting the needs of the economy.

Appropriate

In this backdrop, it would be more appropriate that the Government set up a dedicated infrastructure financing bank, say, by the name ‘India Infrastructure Bank’, Assocham suggested.

Published on June 24, 2014

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