Economy

KV Kamath to head NABFID

Our Bureau New Delhi | Updated on October 27, 2021

Kamat will chair a board comprising 13 members

The Centre has appointed veteran banker KV Kamath as the Chairperson of the National Bank for Financing Infrastructure Development (NABFID), the newly set up development finance institution in the country.

Kamat will chair a board comprising 13 members, including a chairman, four whole-time directors and two government nominees. The remaining are expected to be independent directors.

It maybe recalled that the Parliament had, in March this year, passed a Bill to set up NABFID to fund infrastructure projects in the country.

The bank has been set up to support the development of long-term, nonrecourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.

In his over five-decade-long career, Kamath has served as the head of several top-notch banking institutions and companies.

“ New approach to building #Aatmanirbhar Bharat!. Central government has appointed Shri K.V.Kamath to the post of chairperson, National Bank for financing infrastructure and development, a newly set up DAFI in India,” the Department of Financial Services tweeted on Wednesday evening.

Published on October 27, 2021

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