Key Points
The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday...
The infrastructure lender, which started operations last year, has sanctioned in-principle loans worth 450 billion rupees so far and is ready to disburse 230 billion rupees, said Rajkiran Rai, managing director of NaBFID...
NaBFID was set up as a development finance institution to help fill the gap in infrastructure financing after commercial banks withdrew from the space due to large defaults between 2010 and 2015...
NaBFID will raise about 300 billion through bond sales this financial year, with the first issue, of between 50-100 billion rupees, likely to hit the market in June, said Rai...
"Compared to earlier years, when infrastructure financiers struggled to raise funds from the bond market, the size of the insurance and pension fund market has grown, and these entities are looking to invest in long-term bonds," said Rai...
