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English Release 21-August 2014
Date Month Year
  • President's Secretariat
  • Rashtrapati Bhavan’s ‘In-Residence Programme’ to feature two artists and two writers in September 2014
  • Prime Minister's Office
  • PM at Ranchi
  • Cabinet Committee on Economic Affairs (CCEA)
  • Revision of Rates of Royalty and Dead Rent in respect of certain minerals (other than minor minerals, coal, lignite and sand for stowing)
  • Min of Mines
  • Revision of Rates of Royalty and Dead Rent in respect of certain minerals (other than minor minerals, coal, lignite and sand for stowing)
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket increased to US$ 100.32 per bbl on 20.08.2014
  • Min of Power
  • Prime Minister dedicates 765 kV Ranchi-Dharamjaygarh-Sipat transmission line ; Initiates Commencement of work on 3x660 MW North Karanpura Super Thermal Power Project
  • Ministry of Railways
  • Commodity-Wise Freight Revenue Earnings of Railways goes up by 14.72 per cent during the Month of July 2014 & 9.30 per cent during April-July 2014
  • Ministry of Tourism
  • Full text of the Resolution adopted at the Second National Conference of Tourism Ministers
  • Full text of the speech of the Union Tourism and Culture Minister Shri Shripad Yesso Naik at the inaugural session of the State Tourism Ministers’ Conference

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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