S.B. Nayar appointed CMD of IIFCL

S B Nayar appointed Chairman and Managing Director of India Infrastructure Finance Corp Limited

Created On: Dec 20, 2013 18:25 ISTModified On: Dec 20, 2013 18:29 IST

S.B. Nayar was appointed as chairman and managing director (CMD) of India Infrastructure Finance Co. Ltd (IIFCL). IIFCL is a state-owned firm that funds infrastructure projects.

Nayar will have a term of three years. He presently works as head of Industrial Finance Corporation of India Limited (IFCIL), another state-owned financier.

image
About IIFCL:
India Infrastructure Finance Corporation Ltd (IIFCL) was incorporated in 2006 as a wholly-owned Government of India company.

It was set up as a special purpose vehicle (SPV) to provide long term finance to viable infrastructure projects.

A SPV is a legal entity formed to direct the resources for a single, well defined and  narrow purpose. In India, the genesis of SPV is found in the Union Budget 2005-06.

If you have any Question/Point on the above information, please ask/discuss it in the Current Affairs Group

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS
Comment ()

Post Comment

9 + 6 =
Post

Comments