Government To Infuse ₹ 6,000 Crore In National Investment and Infrastructure Fund

The Union Cabinet on Wednesday approved a capital infusion of ₹ 6,000 crore by the government in the National Investment and Infrastructure Fund (NIIF), a sovereign wealth fund, over the next two years, Minister of Information And Broadcasting Prakash Javadekar said.

The government would invest ₹ 2,400 crore in the NIIF during the current financial year ending in March that would help it raise up to ₹ 1.lakh crore for investments, Mr Javadekar, told reporters after the cabinet meeting.

The cabinet also approved the merger of Lakshmi Vilas Bank (LVB) with DBS India, which is the wholly-owned subsidiary of DBS Bank.

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