NIIF, Qatar Investment Authority signed MoU to facilitate investment in Indian infrastructure sector
Posted on: 10 Jun 2016 14:22:19
10 June 2016 Current Affairs: The National Investment and Infrastructure Fund (NIIF) Ltd. on 5 June 2016 signed a MoU with the Qatar Investment Authority (QIA) to facilitate investment in Indian infrastructure sector.
The Memorandum of Understanding was signed in Doha during the Prime Minister Narendra Modi’s visit to Qatar.
Features of the MoU : Its objective is to facilitate QIA to study investment opportunities in the infrastructure sector in India.The QIA will develop a framework for exchange of information with regard to such investments opportunities, in order to enable both sides to decide on joint investments.The MoU will remain in effect for 12 months during which period, both parties will discuss and agree on the terms, principles, criteria for such investments. The NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India
Qatar Investment Authority : It is the sovereign wealth fund of the State of Qatar.They are long-term investors and access investment opportunities across all geographical areas, sectors and asset classes.The majority of their investments are outside Qatar with assets spanning a wide range of sectors and spread across asset classes.The fund deploys a wide range of investment strategies and invests through a carefully selected network of top-tier fund managers.
National Investment and Infrastructure Fund : It was approved by the Union Cabinet in July 2015 to fund new and rejuvenate stressed projects so that stalled investment cycle is revived in the country. It was established as a Category II Alternate Investment Funds (AIF) as per the regulations of the Securities and Exchange Board of India (SEBI).
It has an initial corpus of 20000 crore rupees which can be leveraged by infrastructure companies including Indian Rail Finance Corporation (IRFC) and National Housing Bank (NHB).Similar to the agreement with the QIA, the NIIF signed a MoU with the United Arab Emirates (UAE) authorities in February 2016 to mobilize investments into the Indian infrastructure sector.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2016 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail