Question
Which entity was designated as a Public Financial
Institution under Section 2 of the Companies Act, 2013, by the Ministry of Corporate Affairs in September 2024?Solution
The National Bank for Financing Infrastructure and Development (NaBFID) was recognized as a Public Financial Institution by the Ministry of Corporate Affairs, in consultation with the RBI. This designation is pivotal in enabling NaBFID to spearhead significant infrastructure projects, thereby fostering development across India.
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