Centre considers creating bank with ₹1 lakh cr equity capital to fund roads1 min read . Updated: 06 Jan 2021, 03:10 PM IST
- The new entity, likely to be part of the budget announcement in February, may have an equity capital of ₹1 lakh crore ($13.7 billion)
- The existing India Infrastructure Finance Co., which has a 2,000-cr rupee corpus, will be merged with the bank, they said
India is considering a proposal to create a bank to help fund port, road and power projects as Prime Minister Narendra Modi’s administration aims to lift Asia’s third-largest economy out of the recession.
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