Union Minister for Road Transport and Highways Nitin Gadkari on Friday said that his ministry is going to hold talks with SEBI for an invIT model whereby small depositors, like senior citizens, retired government officials can invest their savings in infrastructure projects helmed by the Union government.
Gadkari said that the investors can benefit as they would be getting 2 to 3 per cent higher returns than banks. “I am behind my officials and they are also trying and we would take SEBI permission, those who are small (depositors). We don’t want to cause loss to banks, but the interest that banks give to depositors (for FDs). We would give 2-3% more interest than banks and would give interest every month,” said Gadkari.
