• The Parliament has passed the National Bank for Financing Infrastructure and Development Bill, 2021 with the approval of Rajya Sabha today.

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• The Lok Sabha passed the Bill on Tuesday.
• The legislation seeks to establish the National Bank for Financing Infrastructure and Development (NBFID) to support the infrastructure financing in the country.
• This includes development of bonds and derivatives markets which are necessary for infrastructure financing.
• The NBFID will be set up as a corporate body with authorized share capital of one lakh crore rupees, with financial and developmental objectives.
• Financial objectives will be to directly or indirectly lend, invest, or attract investments for infrastructure projects located entirely or partly in India.
• Developmental objectives include facilitating the development of the market for bonds, loans and derivatives for infrastructure financing.