Nilesh Sathe joins NHAI as Finance Advisor

Sathe will help NHAI to garner funds, with long term tenures,for the country's road development from foreign institutional investors (FIIs),World Bank,Asia Developmemnt Bank (ADB), pension funds abroad and also from domestic institutional investors from India  Nitin Gadkari, minister, ministry of transport, shipping and MSME had earlier said that he had a target to raise Rs 15 lakh crore for road development from overseas markets.

Nilesh Sathe

 

New Delhi:

Nilesh Sathe,former member,IRDAI,the insurance regulator of India,has joined National Highways Authority of India (NHAI) as  finance advisor.He will have initially two-year term at NHAI.  

 

Sathe will help NHAI to garner funds, with long-term tenures, for road development in the country from foreign institutional investors (FIIs),World Bank,Asia Developmemnt Bank (ADB), pension funds abroad and also from domestic institutional investors from India. 

 

Nitin Gadkari,Union Minister for Road Transport & Highways of India and Shipping Ministry of Micro, Small and Medium Enterprises had earlier said that he had a target to raise Rs 15 lakh crore of funds for road development from overseas markets.

 

Of late, NHAI has been tapping state-owned Life Insurance Corporation of India (LIC) for its a large funding needs.The advantage of insurance funds is that these are long-term.NHAI has in the past sold its AAArated bonds to the state-owned insurer, keeping with its plans to raise around Rs 1 lakh crore from LIC.

 

Sathe was director and CEO of LIC Nomura Mutual Fund Asset Management Company for three years before joining IRDAI in 2015 from where he retired last year.He is a 1983 batch direct recruit officer of LIC of India and has over 30 years of experience in insurance. 

 


 


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