NIF - National
Investments Fund
·
One of the
sources of finance for Indian Railways Capex - Capital Expenditure
·
Established in 2005
·
Maintained by :
DIPAM - Dept of Investments & Public Asset Management
·
Credits: Proceeds from disinvestment of CPSEs
- Central Public Sector Enterprises.
Initially the proceeds are kept under Public Account of India.
·
Corpus(Amount) of NIF - Permanent nature. That means
the money with the NIF is permanent in nature and is professionally
managed to provide returns (income) to the Government without depleting its
value (corpus)
·
Managed by : Professional Managers such as SBI
Funds Managment pvt ltd, UTI Asset Management Company ltd, LIC Mutual Fund
Asset Management Company ltd.
·
NIF income- utilised
for the following purposes.
1.
Subscribing - shares being issued by the CPSE on
Rights basis or Preferential allotment of shares as per SEBI regulations ( to ensure 51% ownership by the Govt)
2.
For capital infusion in Public Sector Banks
& Public Sector Insurance companies to meet BASEL III norms.
3.
Investments in Regional Rural Banks/NABARD-
National Bank for Agriculture & Rural Development/EXIM Bank - Export -
Import Bank/IIFCL - India Infrastructure Finance Company Limited.
4.
Equity infusion in Metro Projects
5.
Investment in Bhartiya Nabhikiya Vidyut Nigam
Limited (BNVNL) & Uranium Corporation of India Limited.
6.
Investment in
Indian Railways towards Capital Expenditure.
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