Surplus funds of RBI can be used for infra projects: Nitin Gadkari

13 Aug 2021 CW Team

On Wednesday, Minister for Road Transport & Highways, Nitin Gadkari, told the media that infrastructure projects in the country require low-cost financing, and surplus reserves of RBI can be used for the same.

Addressing a virtual CII event, Gadkari told the media that the National Highways Authority of India (NHAI) must also have a financial arm like the Power Finance Corporation (PFC).

Gadkari said that the country has a surplus of dollar reserves. He will discuss with the RBI governor about how to formulate a policy using which they can use the foreign exchange reserves for infrastructure development in the nation.

Recently, a Parliamentary panel has also recommended that the RBI may consider the possibility of using surplus reserves to fund long-term road infrastructure projects.

RBI might also look into the feasibility of using surplus reserves for creating sovereign wealth reserve to fund long-term infrastructure assets.

Gadkari told the media that they require some financial organisations, those who can decrease interest cost for infrastructure, adding that the Indian Railways has the Indian Railway Finance Corporation (IRFC), the Power Ministry has Power Finance Corporation but NHAI does not have any financial arm.

They need one organisation, where NHAI stakes and financial institution stakes are there. With a joint venture, they can formulate the policy, Gadkari suggested.

Additionally, the minister suggested that in place of a 2% bank performance guarantee, the entire project can be guaranteed.

Gadkari told the media that the road ministry aims to raise Rs 1 lakh crore through the monetisation of highway projects.

Image Source

Also read: Nagpur gets Rs 1,824 cr from Central Road Funds for various roads

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..