Finance Ministry Appoints New Members to NIIF Governing Council

10 Jan 2025 CW Team

The Finance Ministry has appointed two new members to the governing council of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL), responsible for providing strategic direction on investment matters, including the NIIF’s corpus. The new members include C.S. Setty, Chairman of SBI, who replaces Dinesh Khara, and Uday Kotak, director at Kotak Mahindra Bank, who takes over from T.V. Mohandas Pai. The nominations were approved by Finance Minister Nirmala Sitharaman, who serves as the chairperson of the Governing Council, as per a circular issued by the Department of Economic Affairs under the Ministry of Finance. Other members of the council include Ajay Seth, Secretary of the Department of Economic Affairs; M. Nagaraju, Secretary of the Department of Financial Services; and Hemendra Kothari, Chairman of DSP Group. The National Investment and Infrastructure Fund (NIIF), a quasi-sovereign wealth fund with a corpus of Rs 400 billion, was established in December 2015 to promote infrastructure financing by investing in greenfield, brownfield, and stalled projects. In November 2020, the Union Cabinet approved a Rs 60 billion equity infusion into the NIIF Debt Platform, which includes Aseem Infrastructure Finance Ltd (AIFL) and NIIF Infrastructure Finance Ltd (NIIF-IFL).

(ET)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..