▶ IN THE LATE 1990s, the newest development finance institution, or DFI, IDFC Ltd, had the herculean task of guiding private investments into the infrastructure segment that was grappling with policy uncertainty, evolving regulations, and a lack of long-term finances. Back then, the telecom sector was still in its infancy, as were private power producers, who were dealing with uncertainty in fuel linkages, and loss-making electricity distribution companies. The infrastructure-focussed IDFC Ltd. was the newest addition to the ranks of erstwhile ICICI Ltd and IDBI Ltd, which were set up to finance industrial projects, but later converted into commercial banks. IDFC, too, followed suit in 2014, by converting into a banking entity.
₹1 LAKH crore AMOUNT OF MONEY NABFID IS TARGETING TO SANCTION BY FY24-END The earlier DFIs did…
