Who: Governing Council of NIIF
When: 13 November 2015
Union Ministry of Finance on 13 November 2015 constituted the Governing Council (GC) of the National Investment and Infrastructure Fund (NIIF).
The GC will be chaired by the Union Finance Minister and has followingfive members
• Secretary, DEA
• Secretary, Financial Services
• Arundhati Bhattacharya
• Hemendra Kothari
• T V Mohandas Pai
And, the GC was mandated to consider approval of guidelines for Investment of Trust property/Corpus of NIIF and parameters for appointment and performance of investment managers/ advisors among others.
About National Investment and Infrastructure Fund
• Its objective is to back new and stressed projects and help restart the investment cycle.
• It was proposed by the Union Finance Minister Arun Jaitley in his Budget 2015-16.
• It was approved by the Union Cabinet on 23 July 2015 with an initial corpus of 20000 crore rupees.
• It was set up as a fund under the provisions of the Indian Trusts Act, 1882.