1. Home
  2.  |  
  3. Economy Current Affairs  |  

Union Cabinet approved setting up of National Investment and Infrastructure Fund

Jul 30, 2015 16:17 IST

Union Cabinet on 29 July 2015 approved setting up of National Investment and Infrastructure Fund (NIIF) to back new and stressed projects may help restart the investment cycle.

The fund will have an initial corpus of 20000 crore rupees which can be leveraged by infrastructure companies.

NIIF is proposed to be set up as a Trust which would raise debt to invest in the equity of infrastructure finance companies such as Indian Rail Finance Corporation (IRFC) and National Housing Bank (NHB).

The fund was proposed by the Union Finance Minister Arun Jaitley in his Budget 2015-16.

Besides, the Cabinet also gave approval to foreign investment in the Alternative Investment Funds for facilitating domestic investment.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes20 People Agreed

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK