Suggest name, tagline, logo for Centre’s new financial institution, win up to Rs 15 lakh 

The Finance Ministry has announced a competition to zero in on the name, tagline and logo for the new Development Financial Institution (DFI), created in order to fund infrastructure. Contenders have the chance to win Rs 15 lakh if all of his or her entries are picked.

The government announced a cash prize of Rs 5 lakh each for the winners of the name, tagline, logo entries, Rs 3 lakh for the second prize winners and Rs 2 lakh for the third prize winners.

The last date for the entry is August 15. The entries will be evaluated on the basis of creativity, vibrancy, ability to connect with the theme, reflect the spirit of India as it celebrates ‘Azadi Ka Amrut Mahotsava’, stated the ministry.

“Name, tagline and logo should represent the intent behind setting up of the Development Financial Institution (DFI) and be a clear marker of what it will/can do. It should in effect be like a visual signature, easy to recall and pronounce. Each of the three elements would stand out on its own but would represent a synergised approach,” it said.

DEVELOPMENT FINANCIAL INSTITUTION

The DFI was approved by the parliament through the National Bank for Financing Infrastructure & Development Act, 2021. The aim of this entity is to assist with the execution and completion of the 7,000 projects identified under the National Infrastructure Pipeline of Rs 111 lakh crore.

The government stated that the institution will be a development bank. “This DFI will crowd in, not elbow out, other lenders. It will not do everything itself. Therefore, it will not only be a provider of credit and credit plus services but equally, be an enabler and a catalyst for a new ecosystem for infra based on collaboration and on partnership. Its operations will prioritize risk mitigation, product innovation, accessing green and ethical funds and helping to develop a vibrant bond market,” said the ministry.

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