Uday Kotak, CS Setty Added As Governing Council Members Of NIIF Trustee

The Finance Ministry has appointed Kotak Mahindra Bank Founder Uday Kotak and SBI Chairman Challa Sreenivasulu Setty as members of the governing council of the NIIF Trustee.

Following the approval by the finance minister, the new chairman of SBI and Uday Kotak, founder and director of Kotak Mahindra Bank Ltd., have been nominated as members of the governing council of NIIFTL, the ministry's press release stated.

The National Investment and Infrastructure Fund Trustee Ltd. was constituted to act as an advisory council to NIIF and provide strategic guidance on a number of matters, including investment of the trustee's corpus.

While Nirmala Sitharaman, as finance minister, will chair the governing council, it will include Department of Economic Affairs Secretary Ajay Seth, as well as Department of Financial Services Secretary Nagaraju Maddirala.

In addition to Kotak and Setty, it will also include Hemendra Kothari, chairman of DSP BlackRock.

The press release added that the finance minister shall chair the sixth meeting of the governing council of the National Investment and Infrastructure Fund on Jan. 20, 2025, at the North Block in New Delhi.

It also asked the members to be present during the meeting on Jan. 20.