A Governing Council headed by Finance Minister Arun Jaitley will oversee the activities of the National Investment and Infrastructure Fund (NIIF) which aims to attract investment from both domestic and international sources.
In July, the Union Cabinet had approved creation of a Rs 20,000-crore NIIF, a sort of sovereign fund, with a view to maximizing economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.
Finance Minister Mr. Arun Jaitley is the Chairman of the six-member Council and Economic Affairs Secretary is its Secretary. The other members of the Council are Financial Services Secretary, SBI Chairperson Arundhati Bhattacharya, investment banker Hemendra Kothari and former Infosys Director T V Mohandas Pai.
The mandate of the Governing Council includes the approval of the following matters:
a) Guidelines for Investment of Trust property/Corpus of NIIF;
b) Parameters for appointment and performance of investment managers/ advisors;
c) Any other matter related or incidental thereto.
Governing Council Constituted To Oversee the Activities of the National Investment and Infrastructure Fund (NIIF) Under the Chairmanship of Finance Minister
Published On - November 18, 2015
