Act Number: 17

Act Name: The National Bank for Financing Infrastructure and Development Act, 2021

Year: 2021

Enactment Date: 2021-03-28

Long Title: An Act to establish the National Bank for Financing Infrastructure and Development to support the development of longterm non-recourse infrastructure financing in India including development of the 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 23: Hedging costs.
    Hedging costs in connection with any borrowing of foreign currency by the Institution for the purposes of granting loans and advances or its repayment, to insulate the Institution from any fluctuations in the rates of exchange, may be reimbursed by the Central Government in part or in full.
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