Finance Ministry Appoints C S Setty and Uday Kotak to NIIF Governing Council C S Setty, Chairman of SBI, replaces Dinesh Khara, while Uday Kotak, veteran banker and director at Kotak Mahindra Bank, takes over from T V Mohandas Pai.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
The Finance Ministry has appointed two new members to the governing council of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL), strengthening its strategic oversight of the fund's operations.
C S Setty, Chairman of SBI, replaces Dinesh Khara, while Uday Kotak, veteran banker and director at Kotak Mahindra Bank, takes over from T V Mohandas Pai. These appointments, approved by Finance Minister Nirmala Sitharaman, aim to bring fresh perspectives to NIIF's decision-making processes.
The governing council also includes key officials such as Ajay Seth, Secretary of the Department of Economic Affairs, M Nagaraju, Secretary of the Department of Financial Services, and Hemendra Kothari, Chairman of DSP Group.
The NIIF, a INR 40,000-crore quasi-sovereign wealth fund established in December 2015, focuses on enhancing infrastructure financing by investing in greenfield, brownfield, and stalled projects.
In a significant move in November 2020, the Union Cabinet sanctioned a INR 6,000 crore equity infusion into the NIIF Debt Platform, supporting institutions like Aseem Infrastructure Finance Ltd and NIIF Infrastructure Finance Ltd to bolster infrastructure growth in India.
