Indianmandarins has learnt that the search-cum-selection committee under Economic Affairs Secretary Shaktikanta Das, set up in October 2015, for selecting a chief executive for the National Investment and Infrastructure Fund (NIIF) is said to have recommended the name of Sujoy Bose, global co-head of infrastructure and natural resources of the International Finance Corporation from about 70 applicants for the post. Among the candidates considered for the job were Thomas Mathew, additional secretary to President Pranab Mukherjee, former Asia CEO of Standard Chartered Jaspal Bindra and IDFC MD Vikram Limaye.
Further, the government is said to be evaluating a proposal of 'outcome-linked' payment package as part of incentives for the Rs 40,000 crore NIIF CEO.
Negotiations on the incentive payment, which will be paid for every $10 billion the fund succeeds in raising, are still on. It is learnt that it could range from Rs 2 crore to Rs.10 crore.
The NIIF is designed for acting as the nodal agency for the development of greenfield and brownfield infrastructure projects and help revive stalled projects. The Centre will invest Rs 20,000 crore in the fund. The remaining amount is expected to come from private investors. The government's share in the corpus will not exceed 49 percent. Sovereign funds and pension funds from a number of countries, including the U.K., UAE, Russia and Singapore, have already expressed interest in investing in NIIF. India and the UAE signed a pact to mobilise up to $75 billion long-term investment during Prime Minister Narendra Modi's visit.
NIIF chief picked up; attractive pay package offered
By IndianMandarins - 2016-06-03 09:06:40
Indianmandarins has learnt that the search-cum-selection committee under Economic Affairs Secretary Shaktikanta Das, set up in October 2015, for selecting a chief executive for the National Investment and Infrastructure Fund (NIIF) is said to have recommended the name of Sujoy Bose, global co-head of infrastructure and natural resources of the International Finance Corporation from about 70 applicants for the post. Among the candidates considered for the job were Thomas Mathew, additional secretary to President Pranab Mukherjee, former Asia CEO of Standard Chartered Jaspal Bindra and IDFC MD Vikram Limaye.
Further, the government is said to be evaluating a proposal of 'outcome-linked' payment package as part of incentives for the Rs 40,000 crore NIIF CEO.
Negotiations on the incentive payment, which will be paid for every $10 billion the fund succeeds in raising, are still on. It is learnt that it could range from Rs 2 crore to Rs.10 crore.
The NIIF is designed for acting as the nodal agency for the development of greenfield and brownfield infrastructure projects and help revive stalled projects. The Centre will invest Rs 20,000 crore in the fund. The remaining amount is expected to come from private investors. The government's share in the corpus will not exceed 49 percent. Sovereign funds and pension funds from a number of countries, including the U.K., UAE, Russia and Singapore, have already expressed interest in investing in NIIF. India and the UAE signed a pact to mobilise up to $75 billion long-term investment during Prime Minister Narendra Modi's visit.
