Union Cabinet has approved equity infusion by Government of 6000 crorerupees in NIIF Debt Platform sponsored by National Investment andInfrastructure Fund, comprising Aseem Infrastructure Finance Limited and NIIFInfrastructure Finance Limited.
Speaking to reporters in New Delhi aboutCabinet decisions, Information and Broadcasting Minister Prakash Javadekarinformed that Cabinet has approved Scheme of Amalgamation of Lakshmi Vilas Bank(LVB) with DBS Bank India Limited. He said with this, there will be nofurther restrictions on the depositors regarding withdrawal of their deposits.Mr Javadekar said, speedy amalgamation and resolution of the stress inLVB is in line with Government’s commitment to a clean banking system whileprotecting the interests of depositors and the public as well as the financialsystem.
The minister also informed that the government has approved FDI of 2480 crorerupees in M/s. ATC Telecom Infrastructure Private Limited by M/s. ATC AsiaPacific pvt Ltd.
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