The Insurance Regulatory and Development Authority of India (IRDAI) on June 05, 2023, issued a notification regarding the Investments in National Bank for Financing Infrastructure and Development
The following has been stated namely: -
• It states that the National Bank for Financing Infrastructure and Development (NaBFID) has been established under National Bank for Financing Infrastructure and Development Act, 2021 to support the development of long-term non-recourse infrastructure financing in India including the development of bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto.
• It states that the NaBFID shall be regulated by RBI as an All India Financial Institution
• The exposure limits for the investments in this entity will be considered in line with the limits prescribed for Public Limited Infrastructure Investee Company under note 3 of Regulation 9 of IRDAI (Investment) Regulations, 2016.
[Circular No. IRDAI/F&I/CIR/INV/121/6/2023]
