Cabinet Gives Nod to Bill for Setting up Dfi

• The Union Cabinet recently approved a Bill to set up a Development Finance Institution, Finance Minister announced.
• The Minister said the government had mentioned in the Budget that it would be setting up a national bank for funding infrastructure and development activity.
• As of December 2019, she said, there were over 6,000 brownfield and greenfield projects requiring funding.
• Even as the Budget session is still on, the Cabinet has already cleared the setting up of a Development Finance Institution.
• The Budget provided for an initial amount of ?20,000 crore for the institution.

SOURCE: PIB