Parliament Passes Bill To Set Up National Bank For Financing Infrastructure – News 24-7 Live News 24-7 Live
Parliament Passes Bill To Set Up National Bank For Financing Infrastructure

Parliament Passes Bill To Set Up National Bank For Financing Infrastructure

Finance Minister Nirmala Sitharaman asserting that its audited accounts will be placed before both the Houses every year and they will have “oversight” of the institution.

Parliament on Thursday passed a bill to set up the National Bank for Financing Infrastructure and Development (NaBFID) to fund infrastructure projects in the country, with Finance Minister Nirmala Sitharaman asserting that its audited accounts will be placed before both the Houses every year and they will have “oversight” of the institution. Rajya Sabha passed the National Bank for Financing Infrastructure and Development (NaBFID) Bill, 2021 by voice vote on Thursday. The bill was passed in Lok Sabha on Tuesday.

Participating in a debate on the bill, some members raised the issue of lack of parliamentary oversight of the institution and demanded that the proposed legislation be sent to a select committee for scrutiny. Replying to the debate, Finance Minister Nirmala Sitharaman explained, “Every year audited accounts (of this bank) will come to each House of Parliament….so Parliament oversight (of the institution) is in-built in the bill.”

News Source:- Ndtv

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