RBI DG asks NaBFID to develop self-sustainable business model, not dependent on government support
RBI Deputy Governor M Rajeshwar Rao on Thursday asked the National Bank for Financing Infrastructure and Development (NaBFID) to develop a sustainable business model not dependent on government support. Speaking at a NaBFID event here, Rao said such a self-sustainable model has to evolve over the medium term, which also doesn't depend on regulatory dispensations as well.
«It is also necessary that over the medium-term, plans for self-sustainable operations, under a business model that is not reliant on continuous government support, or regulatory dispensations would need to be in place,» Rao said, addressing a conference on infrastructure.
He added that the dynamic nature of our times necessitates «agile strategies for institutions with a focus on sectors prioritised by the government».
Meanwhile, Rao also said that the central bank has received feedback on the project lending proposals, and will be coming out with the final norms «shortly».
When asked about calls for credit enhancements by NaBFID, Rao said the RBI will consider the request as and when it comes.
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