India’s SWF gets ready to launch non-bank lender

Mumbai: Sensing a huge market opportunity to provide liquidity support to cash-starved Indian infrastructure companies, the National Investment and Infrastructure Fund (NIIF), the country’s sovereign wealth fund, is all set to launch a nonbank lender of its own.

Aseem Infrastructure Finance Limited (AIFL), the new NBFCIFC (Infrastructure Finance Company), is expected to get RBI approval before March this year. AIFL would target the broader segment of infrastructurelending market and leverage NIIF’s reach in the space to build a specialist credit platform knowledge capital, said people in the know.