The National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021 received the assent of the President on 28 March 2021 and has come into force w.e.f. 19 April 2021. Accordingly, NaBFID has been set up as a Development Financial Institution (DFI) to support the development of long-term infrastructure financing in India.
NaBFID shall be regulated and supervised as an All India Financial Institution (AIFI) by the Reserve Bank of India (RBI) under Sections 45L and 45N of the Reserve Bank of India Act, 1934. It shall be the fifth AIFI after EXIM Bank, NABARD, NHB and SIDBI.