Infrastructure is essential to building a new India. This would mean new projects, expanding existing infra and revitalizing decrepit infra. The National Infrastructure Pipeline of INR 111 Lakh Crore was a recognition of this need and accordingly over 7000 projects were identified. However, the execution and completion of these projects will require timely finance and the requirement of funds is large.
For many years, banks had been the primary source of funding infrastructure. Government has now taken a decision to create a Development Financial Institution (DFI) exclusively for funding infrastructure. This has been approved by Parliament through the National Bank for Financing Infrastructure & Development Act, 2021. This Infra DFI will be a Development Bank with credibility and a mandate through explicit Government support. This DFI will crowd in, not elbow out, other lenders. It will not do everything itself. Therefore, it will not only be a provider of credit and credit plus services but equally, be an enabler and a catalyst for a new ecosystem for infra based on collaboration and on partnership. Its operations will prioritize risk mitigation, product innovation, accessing green and ethical funds and helping to develop a vibrant bond market.
This would be a DFI with size and the ambition to make a difference as well as the ability to play a counter cyclical role whenever needed. It will lend long term, for achieving financial closure for big ticket infra projects commensurate with a $5 trillion economy.
The design of the DFI itself is path breaking and bold, representing a decisive break from conventional thinking.
In view of the above, the Department of Financial Services, Ministry of Finance invites citizens to coin a name, suggest a tagline and design a logo for Development Financial Institution (DFI) which represent the spirit of the activities as described above.
Name, tagline and logo should represent the intent behind setting up of the Development Financial Institution (DFI) and be a clear marker of what it will/can do. It should in effect be like a visual signature, easy to recall and pronounce. Each of the three elements would stand out on its own but would represent, a synergized approach.
Entries for the competition are invited up to 15th August, 2021.
Entries will be evaluated on creativity, vibrancy, ability to connect with the theme, citizens and all stakeholders should reflect the spirit of New India as we celebrate Azadi Ka Amrut Mahotsava with India@75.
Prize details:
The Winning entry will be awarded cash prizes for each category (1st, 2nd and 3rd prize each for Name, Tagline and Logo)
Category, 1st Prize, 2nd Prize, 3rd Prize:
Name: Rs. 5,00,000/-, Rs. 3,00,000/- , Rs. 2,00,000/-
Tagline: Rs. 5,00,000/-, Rs. 3,00,000/- , Rs. 2,00,000/-
Logo: Rs. 5,00,000/-, Rs. 3,00,000/- , Rs. 2,00,000/-
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