March 17, 2021 7:51 AM

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Cabinet approves bill to set up DFI with initial capital of Rs 20 thousand crore

The Union Cabinet has approved a bill to set up Development Finance Institution (DFI)  with an initial capital infusion of 20 thousand crore rupees. The bill will be tabled in Parliament during the current Budget Session.<br />'' <br />'' DFI is expected to raise long-term funds for infrastructure development projects in the country. Briefing reporters after the Cabinet meeting, Finance Minister Nirmala Sitharaman said the initial grant to the DFI will be  5 thousand crore rupees and additional increments of grants will be made within the limit of 5 thousand crore rupees.

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