NIIF is a fund created by the Government of India for enhancing infrastructure financing in the country. The objective of NIIF is to maximize economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects. It could also consider other nationally important projects, for example, in manufacturing, if commercially viable.
Functions of NIIF
The functions of NIIF are as follows:
1. Fund raising
2. Servicing of the investors of NIIF.
3. Considering and approving candidate companies/institutions/ projects (including state entities) for investments and periodic monitoring of investments.
4. Investing in the corpus created by Asset Management Companies (AMCs) for investing in private equity.
5. Preparing a shelf of infrastructure projects and providing advisory services.
Why was it in news recently?
Centre has agreed to give Rs. 20,000 crore to the NIIF.