Govt to infuse Rs 500 cr capital in IFCI to improve financial health

Quick Summary:

The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of Rs 499.99 crore for 'Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI).

The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company's proposed restructuring and consolidation into a group.

The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week.

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Category: BusinessFinance

Markets: India

Topics: Ministry of Finance Corporate Financial Services IFCI Ltd Department of Financial Services Industrial Finance Corporation of India Consumer Lending StockHolding Corporation IFCI Venture Capital Funds Ltd The Industrial Finance Corporation of India IFIN Credit Ltd IFCI Group Venture Capital IFCI Limited Real Estate Rental

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 17:15:54 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 607 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24581529

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