The Centre had announced a plan to create a Development Financial Institution (DFI) exclusively for funding infrastructure in Union Budget 2021. Under the National infrastructure Pipeline (NIP), the Centre has planned to invest Rs 111 lakh crore on over 7,000 infrastructure projects by 2024-25.
In a statement on mygov.in. website it mentioned "The execution and completion of these projects will require timely finance and the requirement of funds is large".
It further added "This DFI will crowd in, not elbow out, other lenders. It will not do everything itself. Therefore, it will not only be a provider of credit and credit plus services but equally, be an enabler and a catalyst for a new ecosystem for infra based on collaboration and on partnership. Its operations will prioritize risk mitigation, product innovation, accessing green and ethical funds and helping to develop a vibrant bond market".
"Ministry of Finance invites citizens to coin a name, suggest a tagline and design a logo for Development Financial Institution (DFI). Name, tagline and logo should represent the intent behind setting up of the Development Financial Institution (DFI) and be a clear marker of what it will/can do", it said.
Entries for the competition are invited till August 15, 2021.
Citizens and all stakeholders should reflect the spirit of New India as India celebrate Azadi Ka Amrut Mahotsava with India@75. Entries will be evaluated on creativity, vibrancy, ability to connect with the theme.
Prize details:The winning entry will be awarded cash prizes for each category (1st, 2nd, and 3rd prize each for name, tagline, and logo)
|Category||1st Prize||2nd Prize||3rd Prize|
|Name||5 lakh||3 lakh||2 lakh|
|Tagline||5 lakh||3 lakh||2 lakh|
|Logo||5 lakh||3 lakh||2 lakh|