Rajkiran Rai G, managing director of NaBFID, told Business Standard that the cumulative sanctions crossed the ₹1 trillion mark by the end of March 2024. While this was a performance in 15 months since lending operations began in December 2022, now the Government of India-backed lenders would look at fresh sanctions of ₹1 trillion each financial year.
Besides lending activity, as part of the development mandate, it would engage with urban local bodies to groom them for raising funds from the market, he added.
The share of greenfield projects in sanctions would grow gradually. The funding approvals for such projects were about onethird of the total in 2023-24 (FY24), and it would rise to 40 per cent in the current financial year.
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