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English Release 24-November 2014
Date Month Year
  • President's Secretariat
  • President of India condoles the passing away of Murli Deora
  • Prime Minister's Office
  • Shri Ajit Doval, NSA, appointed as the Special Representative of India to conduct boundary negotiations and strategic consultations with China
  • English rendering of the text of Prime Minister Shri Narendra Modi’s address at the Valedictory Function of the 6th World Ayurveda Congress
  • English Rendering of PM’s statement to media outside Parliament House
  • PM's statement to media outside Parliament House
  • PM expresses sadness on the passing of Shri Murli Deora
  • Election Commission
  • Facts at A Glance- Jharkhand
  • Min of Information & Broadcasting
  • ‘KILLA’ - A Realistic Fiction on Childhood Nostalgia
  • Min of Parliamentary Affairs
  • Shri M.Venkaiah Naidu condoles death of Shri Murli Deora
  • Min of Personnel, Public Grievances & Pensions
  • Combined Defence Services Examination (I), 2014
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 77.39 per bbl on 21.11.2014
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on November 20, 2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Felicitation for Indian Team for Blind Cricket

Previous Date

 
Ministry of Finance04-October, 2012 20:57 IST
Model Tripartite Agreement for Infrastructure Debt Fund
The Cabinet Committee on Infrastructure (CCI) approved the Model Tripartite Agreement for Infrastructure Debt Funds (IDFs).

The CCI also approved the constitution of empowered Inter-Ministerial Group to approve sector-specific or project-specific modifications.

This Model Tripartite Agreement will facilitate early operationalisation of the IDFs.

Setting up of Infrastructure Debt Funds (IDFs) was announced in the Union Budget for 2011-12. These are aimed at accelerating and enhancing flow of long term debt for funding infrastructure projects in the country. They will also act as a catalyst to channelize domestic savings. IDFs would provide a vehicle for refinancing the existing debt of infrastructure projects which are funded mostly by commercial banks. This would create fresh headroom for commercial banks and enable them to take up a larger number of new infrastructure projects.

An IDF can be structured either as a company or as a trust. If set up as a trust, it would be regulated by SEBI under the Mutual Fund Regulations. If set up as a company, the IDF would be structured as a Non-Banking Finance Company (NBFC) and will be under the regulatory oversight of RBI. Guidelines with enabling provisions have already been issued by the Reserve Bank of India and SEBI.

An IDF-NBFC would issue either rupee or dollar denominated bonds and invest only in debt securities of Public Private Partnership projects which have a buy-out guarantee and have completed at least one year of commercial operations. Such projects are expected to be viewed as low-risk investments and would, therefore, be attractive for risk-averse insurance and pension funds.

Regulations issued by RBI provide that a Tripartite Agreement, which shall be binding on all the parties thereto, will be entered into between the Concessionaire, the Project Authority and the IDF.

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SH/SKS
(Release ID :88186)

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