(a) Whether the Government had asked the Reserve Bank of India and
Securities and Exchange Board of India (SEBI) to regulate Infra Debt
Funds;
(b) If so, the details thereof;
(c) Whether the Infra Debt Funds can be set up either as a Trust or as a
company; and
(d) If so, the details thereof?
Minister of State in the Ministry of Finance (SHRI NAMO NARAIN MEENA)
(a), (b), (c) & (d): Finance Minister in his Budget Speech for 2011-12 had
announced setting up of Infrastructure Debt Funds (IDFs). An IDF may be set up
either as a Trust or as a company. If set up as a Trust it would be in the form
of a Mutual Fund and will be regulated by SEBI. If set up as a company it would
be a Non-Banking Finance Company and would be regulated by RBI. Regulations
governing the IDF set up as a Mutual Fund would be issued by SEBI and for IDF
set up as a company would be issued by RBI.