The Union Cabinet approved a bill to set up a Development Finance Institution(DFI). It will be called National Bank for Financing Infrastructure and Development (NaBFID).
About National Bank for Financing Infrastructure and Development (NaBFID):
Initially, the Government of India will own it with a 100% stake.
They will gradually bring it down to 26% in a few years.
It will provide finance for social and economic infrastructure projects identified under the National Infrastructure P
Investments in India
Why in News
India has attracted total FDI inflow of US$ 72.12 billion during April to January, 2021. It is the highest ever for the first ten months of a financial year and 15% higher as compared to the first ten months of 2019-20 (US$ 62.72 billion).
Japan has been leading the list of investor countries to invest in India with 29.09% of the total FDI Equity inflows during January, 2021, followed by Singapore (25.46%) and the U.S.A. (12.06%).
In terms of top inv
Special Economic Zones (SEZ)
The 1st Export Processing Zone (EPZ) was set up in 1959 at Shannon, in Ireland. India realised how effective EPZ is in promoting Exports.
India was inspired by China for setting up of SEZ. Asia’s First EPZ was set up in Kandla in 1965.
India 1st introduced the concept of SEZ in the EXIM policy 2000. SEZ Act, 2005 is an umbrella legal framework for SEZ.
SEZ refers to a&n