20,000 crore from the Government of India.[4] NIIF was approved in August 2015 by the Department of Economic Affairs. First meeting of its governing council was held in December 2015 further to which it was registered with SEBI as Category II Alternative Investment Fund.[5] In June 2016, Finance Ministry announced that they appointed Mr. Sujoy Bose as Chief Executive Office of National Investment and Infrastructure Fund (NIIF) who was then the director at Infrastructure and Natural Resources, International Finance Corporation (IFC).[6]