ICICI Bank, Bank of Baroda and Citi Financial have joiÂned hands to form a nonbanking financial company (NBFC) in order to float the country’s first infrastructure development fund (IDF).While ICICI Bank and BoB will pick up 30 percent stake each, Citi Financial will have close to 30 percent.
Tag: NBFC
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Govt plans Rs 50,000 cr IDF
The government is planning an over Rs 50,000 crore infrastructure debt fund (IDF) with participation from a foreign bank, a multilateral agency, and state-owned financial institutions.
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Banks' alternative to infra lending: Good step, but…
Finally, banks can get completely rid of their limits imposed by asset-liability mismatch (ALM). Although schemes like take out financing exist and there have been numerous attempts to revive the corporate bond market, most of the schemes and efforts seem to have gone in vain.
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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 boaÂrd for approval. The bank plans to paÂrÂÂtner with other interested players for floating such an infra fund. Earlier, the Reserve Bank of India (RBI) allowed banks and non-banking financial coÂmÂpanies (NBFC) to sponsor IDF, which can be set up as mutual funds and NBFCs.
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Structure of proposed IDFs finalised
A final structure of the Infrastructure Debt Funds (IDFs) has emerged following wide-scale consultations held with potential investors, infra companies, regulators and experts.
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Tower biz gets infra status for funds
In an effort to support funding for telecom facilities, the Reserve Bank of India declared that telecom towers will be treated as infrastructure facility, to get credit from non-banking finance firms.