Insurance Regulatory and Development Authority
Circular REF: IRDAI/F&I/CIR/INV/121/6/2023 Dated: 5th June, 2023
Sub: Investments in National Bank for Financing Infrastructure and Development.
The National Bank for Financing Infrastructure and Development (NaBFID) is established under National Bank for Financing Infrastructure and Development Act,2021 to support the development of long term non-recourse infrastructure financing in India including the development of bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto. NaBFID is regulated by RBI as All India Financial Institution.
As the NaBFID is established as Development Financial Institution to support the development of long-term infrastructure financing, the exposure limits for the investments in this entity will be considered in line with the limits prescribed for Public Limited Infrastructure Investee Company under note 3 of the Regulation 9 of IRDAI(Investment) Regulations,2016.
(Ammu Venkataramana)
General Manager (F&I)
