K V Kamath appointed as chairperson of NaBFID
The finance ministry has appointed veteran banker K.V. Kamath as the chairman of the newly-formed development finance institution National Bank for Financing Infrastructure and Development (NaBFID).
- Kamath has served as the first president of the National Development Bank.
- He has built the multilateral lending institution from the scratch.
- Kamath has played an important role in catapulting ICICI Bank Ltd and served for 13 years.
- He also was appointed as the non-executive chairman of Infosys Ltd.
- Kamath has served his 8 years period at the Asian Development Bank (ADB) in Manila between 1988 and 1996.
- Later, he was appointed as managing director and chief executive of ICICI Bank.
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National Bank for Financing Infrastructure and Development (NaBFID)
- In March 2021, the Govt of India brought the NaBFID bill in order to fund long term infrastructure projects in the country.
- It headquarters will be located in Mumbai, Maharashtra.
- Govt will capitalize the DFI with ₹20,000 crores.
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