The finance ministry appointed veteran banker K.V. Kamath as the chairman of the newly constituted development finance institution National Bank for Financing Infrastructure and Development (NaBFID). Kamath is a well-known banker in India and is the first head of the New Development Bank (NDB).
NaBFID is a newly set up development financial institution (DFIs) in India. It has been set up for infrastructure financing as per the National Bank for Financing Infrastructure and Development (NaBFID) Act 2021. The authorized share capital of the NaBFID is Rs one lakh crore. The initial paid-up capital of NaBFID is Rs 20,000 crore.
The headquarters of NaBFID is in Mumbai.
