NaBFID gets Finance Ministry, RBI nod for national infrastructure project
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NaBFID has obtained approvals from the finance ministry and the Reserve Bank of India to establish a national repository. This repository will offer consolidated information on infrastructure projects for lenders and investors. The platform aims to facilitate access to data sourced from various government agencies like NHAI and others. NaBFID is considering partnerships with financial institutions to enhance the repository's effectiveness.
Development finance institution NaBFID has received approvals from the finance ministry and Reserve Bank of India (RBI) to develop a national repository of infrastructure projects, a one-stop shop for lenders and investors to access end-to-end information on projects.NaBFID (National Bank for Financing Infrastructure and Development) will likely work with other financial institutions and partner with credit bureaus for “the first-of-its-kind infrastructure repository in the country” that will function on the lines of credit information bureaus, managing director Rajkiran Rai said.
“This is envisaged as a single source of information on infrastructure projects with data sourced from government agencies like NHAI (National Highways Authority of India), banks and even government projects like Gati Shakti,” Rai said.
He said the proposed National Infrastructure Data Platform (NIDP) has received the go-ahead from the Department of Financial Services (DFS) and “RFPs (requests for proposal) to appoint a consultant and a technology partner are already underway.”
The platform will develop a time series infrastructure sectoral database and serve as a “single, neutral national utility” for infrastructure-related data, the approval letter from DFS said.
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ET has seen a copy of the letter.
Just like credit information bureaus and the CIBIL database have helped banks to make better credit decisions and enhanced credit quality, NIPD will help lenders and investors make more informed decisions on infrastructure projects, Rai said. “It will give information about the A to Z of projects, right from concept stage to execution and finally completion,” he said.
Rai said NaBFID is open to partnering with credit bureaus, banks and other financial institutions “to get this project up and running, but it will remain its nodal body.”
Formed by an Act of parliament in 2021, NaBFID is a dedicated and specialised institution focused on addressing the long-term financing needs of the infrastructure sector in India.
Besides being an infrastructure financier, NaBFID also has developmental objectives like coordinating with state and central governments, regulators and investors to support infrastructure development in the country.
Earlier this year, it started Institute for Infrastructure Development (IID), a learning and capacity-building initiative dedicated to training, skills and research, and in infrastructure financing.
Rai said the infrastructure repository will be NaBFID’s third industry wide development, together with IID and an in-process self-regulatory organisation, which is also backed by the DFI.
“From a capital perspective, it (NIPD) will not be a huge investment because it will mostly be a database collected from the industry. It will give a picture about infrastructure projects which can also be used by investors seeking to invest in these projects,” Rai said.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
