FM Nirmala Sitharaman to table development finance institution bill in Lok Sabha today

Finance Minister Nirmala Sitharaman will table the National Bank for Financing Infrastructure and Development Bill in Lok Sabha today.

The bill is to set up the proposed development finance institution, which is expected to give impetus to the infrastructure sector by raising long-term funding.

The institution will be 100 per cent government owned to begin with and will have funding from non-government sources depending on need in the future.

The proposal to set up a development finance institution was announced in the Union Budget and was approved by the Union Cabinet last week.

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