India Infrastructure Finance Company Limited (IIFCL)
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India Infrastructure Finance Company Limited (IIFCL) has made contribution of Rs 10.00 Crore to the National Sports Development Fund (NSDF).
The IIFCL contribution is being utilized for promotion of sports in the disciplines Badminton, Archery and Para Sports by way of support to sportspersons in these disciplines for their customized training and other services and setting up of Academies/Support to Academies in these disciplines.
About the India Infrastructure Finance Company Limited (IIFCL):
IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.
- Eligible sectors: The sectors eligible for financial assistance from IIFCL are as per the Harmonized list of Infrastructure Sub-Sectors as approved by the Government and as amended from time to time. These broadly include transportation, energy, water, sanitation, communication, social and commercial infrastructure.
- IIFCL has been registered as a NBFC-ND-IFC with RBI since September 2013.
About the National Sports Development Fund:
The National Sports Development Fund (NSDF) was established in 1998, under Charitable Endowments Act 1890, vide Government of India Notification dated 12th November 1998.
Functions: The NSDF supports sportspersons to excel in the field by providing opportunities to train under coaches of international repute with technical, scientific and psychological support and also in getting exposure to international competitions. Financial assistance is also provided to specific projects for promotion of sports and games sponsored by reputed Organizations/Institutes, provided the facilities so created are made available to a sizeable population of the area/region.
The Council: The Fund is managed by a Council constituted by the Central Government. Union Minister for Youth Affairs and Sports is the Chairperson of the council. The Members of the Council include senior officers in the Department of Sports/Sports Authority of India. The representatives of the Apex industry organizations namely, FICCI, CII and ASSOCHAM have been included in the Council as members. The representatives of Sports Promotion Boards of reputed organizations are also members of the Council. Joint Secretary to the Government of India in the Ministry of Youth Affairs & Sports is the ex-officio Member Secretary of the Council.
Sources: pib.
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