Union Cabinet gives nod to India, UAE MoU on NIIF

Posted on:24 Mar 2016 17:49:50

Union Cabinet gives nod to India, UAE MoU on NIIF
24 March 2016 Current Affairs GK: The Union Cabinet has given its approval for a MoU between India and United Arab Emirates (UAE) to mobilise long-term investment in National Investment and Infrastructure Fund (NIIF). Decision in this regard was taken by Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.The MoU will help establish a transparent and high-level framework and collaboration platform for both countries. Under this platform both countries will explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF. Under this MOU, a joint working group comprising of the concerned representatives of both parties would be established to take forward cooperation and to discuss and agree the terms, principles and criteria jointly.In August 2015, during Prime Minister Narendra Modi’s visit to UAE both countries had agreed to establishment of UAE-India Infrastructure Investment Fund. The aim of the fund was to reach a target of 75 billion dollars to support investment in India’s plans for rapid expansion of next generation infrastructure.The National Investment and Infrastructure Fund (NIIF) has been established by Union Government as a Category II Alternate Investment Funds (AIF) as per the regulations of the Securities and Exchange Board of India (SEBI). The objective of NIIF is to maximize economic growth of the country mainly through infrastructure development in commercially viable projects (both greenfield and brownfield), including stalled projects. For the investment purpose, NIIF will solicit equity participation from strategic anchor partners.

Gk Current Affairs April 2017

25 APRIL
NEWS
24 APRIL
NEWS
22 APRIL
NEWS
21 APRIL
NEWS

Gk Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Gk Current Affairs February 2017

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
25 FEBRUARY
NEWS
24 FEBRUARY
NEWS




Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.