The Competition Commission of India (CCI) has approved the sale of Reliance Infrastructure's (RInfra) integrated Mumbai power business to Adani Transmission in a deal worth Rs 18,800 crore.

The National Investment and Infrastructure Fund (NIIF) got a shot in the arm with the Abu Dhabi Investment Authority (ADIA) committing an investment of $1 billion.

Ministry of Finance on Monday issued a press statement saying that an agreement between India and ADIA Group has been signed to mobilise long term investment into NIIF. The NIIF was created in 2015 with a proposed corpus of Rs 40,000 crores.

The Anil Ambani-led company aims to bring down its mounting debt and focus business on leaner and select sectors of the infrastructure business. 

A panel headed by Finance Minister Arun Jaitley today took stock of the progress made on operationalising India's maiden sovereign wealth fund NIIF, including the selection of its CEO and projects shortlisted for making initial investments.

The two-day India Investment Summit, which began in New Delhi on Thursday, has seen a large presence of potential investors, including an official delegation from United Arab Emirates led by Sheikh Hamid Bin Zayed Al Nahyan, Managing Director, Abu Dhabi Investment Authority (ADIA).

The low oil prices have created a favourable environment as it helped to absorb the loss faced by oil companies and kept inflation under control, Arun Jaitley said.