This gazette notification from the Ministry of Corporate Affairs, Government of India, declares the "National Bank for Financing Infrastructure and Development" as a Public Financial Institution (PFI).
Key Changes
The National Bank for Financing Infrastructure and Development is now officially designated as a Public Financial Institution under the Companies Act, 2013. This designation is effective from September 10, 2024.
This designation was made under the powers conferred by sub-clause (v) of clause (72) of Section 2 of the Companies Act, 2013, and in consultation with the Reserve Bank of India.
Impact Analysis
Impact on the National Bank for Financing Infrastructure and Development
The bank will need to comply with all regulations and reporting requirements applicable to PFIs.
Impact on other Financial Institutions
This designation could potentially set a precedent for other institutions seeking PFI status.
Impact on the Government
The government may need to allocate resources for monitoring and regulating the newly designated PFI.
Impact on the Indian Economy
It may lead to increased investment in infrastructure projects, contributing to economic growth.
Suggested Action Items
The Reserve Bank of India should continue its collaborative efforts to ensure the stability and soundness of the financial system.
Key Entities Referenced
Ministry of Corporate Affairs (MCA): The Indian government ministry responsible for issuing the notification.
Reserve Bank of India (RBI): The central bank of India, consulted in the decision to designate the bank as a PFI.
Companies Act, 2013: The law under which the notification was issued, specifically Section 2, clause (72), sub-clause (v).
National Bank for Financing Infrastructure and Development: The institution newly designated as a Public Financial Institution.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-10092024-257047
xxxGIDHxxx
CG-DLxx-xEG-I1D0E0x9x2x0 24-257047
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (i)
PART II—Section 3—Sub-section (i)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 515] नई दिल्ली, मगं लर्ार, जसतम्ब र 10, 2024/भार 19, 1946
No. 515] NEW DELHI, TUESDAY, SEPTEMBER 10, 2024/BHADRA 19, 1946
कारपोरेट कार् यमत्रं ालर्
अजधसचू ना
नई दिल्ली, 10 जसतम् बर, 2024
सा.का.जन. 557(अ).—केन्द्रीर् सरकार, कंपनी अजधजनर्म, 2013 (2013 का 18) की धारा 2 की खंड (72) के उप-खंड (v)
द्वारा प्रित्त िजिर्ों का प्रर्ोग करते हुए, भारतीर् ररज़र्य बैंक के परामिय से जनम्नजलजखत संस्ट्था को सार्यिजनक जर्त्तीर् संस्ट्था के रूप में
अजधसूजचत करती है, अथायत्: -
"राष्ट्रीर् जर्त्तीर् अर्संरचना और जर्कास बैंक।”
[फा. सं. पॉजलसी-03/1/2024-सीएल.-V-एमसीए]
मनोि पाण्डेर्, अपर सजचर्
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 10th September, 2024
G.S.R. 557(E).—In exercise of the powers conferred by sub-clause (v) of clause (72) of Section 2 of the
Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the Reserve Bank of India, hereby
notifies the following institution as a public financial institution, namely:-
" National Bank for Financing Infrastructure and Development".
[F. No. Policy-03/1/2024-CL-V-MCA]
MANOJ PANDEY Addl. Secy
5793 GI/2024
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.