NIIF - Current Affairs Questions and Answers

1)   Who was appointed as CEO of NIIF?

a. Sujoy Mitra
b. Sujoy Majumdar
c. Sujoy Das
d. Sujoy Bose
Answer  Explanation 

ANSWER: Sujoy Bose

Explanation:
Senior IFC official Sujoy Bose was on June 26, 2015 appointed CEO of India's maiden Rs 40,000 crore sovereign wealth fund NIIF.

  • He is Director and Global Co-Head of Infrastructure and Natural Resources at Washington-based International Finance Corporation.
  • IFC is the private sector lending arm of the World Bank.
2)   Government today cleared an MOU between India and which country for mobilisation of around USD 75 billion long term investments in NIIF?

a. UK
b. USA
c. UAE
d. None of the above
Answer  Explanation 

ANSWER: UAE

Explanation:
GoI has cleared MoU between India and the United Arab Emirates for exploring chances for mobilisation of close to USD 75 billion long term investment in the National Investment and Infrastructure Fund. Cabinet meeting chaired by the PM has provided ex-post factor approval for the MoU between the two nations which was signed on February 11, for mobilising long term investment in the NIIF. The objective of NIIF is maximising economic impact through infrastructure development in commercially viable projects, greenfield as well as brownfield. This includes stalled projects. NIIF is category II Alternate Investment Fund as per SEBI.
3)   Government will be setting up a INR 40K crore NIIF. What does NIIF stand for?

a. National Innovation and Infrastructure Fund
b. National Investment and Infrastructure Fund
c. National Innovation and Investment Fund
d. None of the above
Answer  Explanation 

ANSWER: National Investment and Infrastructure Fund

Explanation:
Government will be setting up a INR 40 k crore National Investment and Infrastructure Fund. Its chief executive will be finalised towards the end of January. IIFC has been appointed as the investment advisor and IDBI Capital Market Services Ltd has been appointed as advisor. NIIF has constituted a search cum selection committee under CCEA Secretary Shanktikanta Das for selection of the CEO of NIIF.

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