Finmin announces contest for new DFI name, tagline and logo; Rs 5 lakh reward for each component

Team Udayavani, Jul 28, 2021, 7:51 PM IST

New Delhi: The Finance Ministry of India on Wednesday, July 28 announced a contest to crowdsource the name, tagline and logo of the new development financial institution (DFI) being set up to provide long-term finance for infrastructure sector projects.

The winners will get cash prizes of up to Rs 5 lakh in each category, official Twitter handle of finance minister Nirmala Sitharaman said.

The last date for sending entries is country’s independence day, August 15, 2021.

.@FinMinIndia in association with @mygovindia is announcing a contest to crowdsource the name, tagline and logo of the new Development Financial Institution. Cash prizes of up to Rs 5 lakh in each category! Last date for entries is 15.08.2021. https://t.co/uK5AojlWlB (1/2)

— NSitharamanOffice (@nsitharamanoffc) July 28, 2021

The setting up of a Development Financial Institution was announced by Finance Minister Smt @nsitharaman in Budget 2021-22. Both Houses of Parliament passed the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 in March 2021. (2/2) pic.twitter.com/8AFa26Bdxf

— NSitharamanOffice (@nsitharamanoffc) July 28, 2021

“Entries will be evaluated on creativity, vibrancy, ability to connect with the theme, citizens and all stakeholders should reflect the spirit of New India as we celebrate Azadi Ka Amrut Mahotsava with India@75,” the government’s citizen engagement platform MyGov.in said.

The setting up of the new DFI was announced by Finance Minister Nirmala Sitharaman in Budget 2021-22. Both Houses of Parliament passed the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 in March 2021.

The government wants to fully operationalize the new DFI by next month.