DFI to gain direct access to Reserve Bank of India financing facilities
The new government-backed Development Finance Institution (DFI) will have direct access to the Reserve Bank of India’s financing facilities, helping the infrastructure lender to raise funds at a cheaper rate.
The central government can guarantee the bonds, debentures and loans issued by the new DFI if the infrastructure lender so wishes. The DFI may “borrow money from the Reserve Bank, redeemable on demand or at the expiration of fixed periods not exceeding ninety days from the date on which the money is thus borrowed against. the guarantee of shares, funds or securities … “…
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First published: Tue 23 Mar 2021. 02:08 IST