Indian Railway Finance Corporation Annual Report 2018-19 (6523C)

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RNS Number : 6523C

Indian Railway Finance Corporation

11 February 2020

Indian Railway Finance Corporation Ltd-Annual Report 2018-19

The link for the annual report for IRFC for the FY 2018-19 is iterated below:

http://irfc.nic.in/wp-content/uploads/2019/12/17.12.2019-INDIAN-RAILWAY-ANNUAL-REPORT-2018-19.pdf

About IRFC

Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets.

IRFC is a Schedule 'A' Public Sector Enterprise under the administrative control of the Ministry of Railways, Govt. of India. It is also registered as Systemically Important Non-Deposit taking Non Banking Financial Company (NBFC - ND-SI) with RBI and has been classified as Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI).

In more than 30 years of existence, IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay.

The primary objective of IRFC is to meet the predominant portion of 'Extra Budgetary Resources' (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms. The Company's principal business therefore is to borrow funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways.

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February 11, 2020 07:36 ET (12:36 GMT)