New Delhi: Now you can win a whopping Rs 15 lakh from the central government. All you need to do is to participate in “Name, Tagline and Logo” contest for Development Financial Institution. “Put on your creative hat and stand a chance of winning a cash prize of ₹5,00,000 for each category,” MyGovIndia tweeted.

  • “Infrastructure is essential to building a new India. This would mean new projects, expanding existing infra and revitalizing decrepit infra. The National Infrastructure Pipeline of Rs 111 Lakh Crore was a recognition of this need and accordingly over 7,000 projects were identified. However, the execution and completion of these projects will require timely finance and the requirement of funds is large,” as per details in the mygov website.
  • The government has taken a decision to create a Development Financial Institution (DFI) exclusively for funding infrastructure. This has been approved by Parliament through the National Bank for Financing Infrastructure & Development Act, 2021, the Government of India said.
  • Department of Financial Services, Ministry of Finance invites citizens to coin a name, suggest a tagline and design a logo for Development Financial Institution (DFI), as per the government of India.
  • 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 synergized approach, the Government of India said.
  • The last date for entries for the competition is up to August 15, 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 Central government said.
  • The Winning entry will be awarded cash prizes for each category.
  • There will be first, second and third prize each for Name, Tagline and Logo.
  • For Name – the first position will get Rs 5 lakh, second position will get Rs 3 lakh , and third position will get Rs 2 lakh.
  • For Tagline – the first position holder will get Rs 5 lakh, second position will get Rs 3 lakh, and third position will get Rs 2 lakh.
  • For Logo – The first prize consists of Rs 5 lakh, second prize Rs 3 lakh, and the third prize is Rs 2 lakh.