Question
Reserve Bank of India has announced that NaBFID will be
regulated and supervised by it as an AIFI under the Sections 45L and 45N of RBI Act, 1934. What is the acronym of second ‘I’ in AIFI?Solution
AIFI - All India Financial Institution Reserve Bank of India has announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised by it as an All India Financial Institution (AIFI) under the Sections 45L and 45N of RBI Act, 1934. Presently RBI has four AIFIs under it namely EXIM Bank, NABARD, NHB and SIDBI. NaBFID will be the fifth AIFI under RBI.
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