September 16, 2022
Union Bank of India’s former managing director (MD) Rajkiran Rai has been appointed as the MD of the National Bank for Financing Infrastructure and Development (NaBFID). NaBFID is a newly established government-backed development finance institution (DFI) that hopes to encourage investment in the infrastructure sector. The DFI will start operations soon and aims to provide financial assistance of `1 lakh crore during the first year of its operations. Rai assumed charge as NaBFID’s MD on August 8 and will serve at the post for a period of almost five years, till May 18, 2027. Rai began his career as an agricultural finance officer in the Central Bank of India in 1986 and has over 30 years of banking experience.
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