Govt to convert IFCI into infrastructure advisory firm: Report
Tue, Nov 26, 2024 11:16 AM

Govt to convert IFCI into infrastructure advisory firm: Report

A Flip by Avya Verma
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Centre will revamp operations of non-bank lender IFCI Ltd by shutting its lending operations following capital constraints and converting it into an infrastructure advisory firm, two government sources told Reuters on Tuesday. IFCI, launched in 1949 soon after the country's independence, was asked to stop fresh lending in 2021-22 after bad loans soared, depleting the lender's capital.

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