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Corp Bank plans infra debt fund

Corp Bank plans infra debt fund

Corporation Bank said it is drawing up plans to float an Infrastructure Debt Fund (IDF) and will soon approach its boa­rd for approval.The bank plans to pa­r­­tner with other interested players for floating such an infra fund. Earlier, the Reserve Bank of India (RBI) allowed banks and non-banking financial co­m­panies (NBFC) to sponsor IDF, which can be set up as mutual funds and NBFCs. As per the RBI guidelines, IDFs that can be set up as NBFCs should have a minimum net owned fund of Rs 300 crore and a capital adequacy ratio of 15 percent.

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