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LIC Presents the Cheque of ₹ 2000 crore as the First Tranche of Funding Assistance to Railways The move Marks the Beginning of a Historic Milestone in the form of Institutional Financing for the First time Becoming Available for Railway Projects Suresh Prabhu : Fresh Investments to Help Decongest the Network, Increase Traffic Output and Generate Adequate Internal Resources

Dated:- 27-10-2015 - Press Information Bureau Government of India Ministry of Railways 27-October-2015 14:31 IST Life Insurance Corporation (LIC), a PSU of Government of India presented the cheque of ₹ 2000 crore to Railway PSU Indian Railway F .....

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Prabhakar Prabhu. The cheque was handed over by Shri S.B. Mainak, MD/LIC to Shri Rajiv Dutt, MD/IRFC. On this occasion, Chairman Railway Board Shri A.K. Mital, Financial Commissioner (Railways) & Chairman, IRFC Shri S. Mookerjee; and other Board .....

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ys and LIC signed an MoU for the highest ever funding of ₹ 1.5 lakh crore from LIC to Railways. Addressing the gathering, Minister for Railways Shri Suresh Prabhakar Prabhu, pointed out that finding resources for investment in capacity enhancem .....

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ve gone further down and down and it would not have succeeded in breaking the vicious cycle. The Railway budget 2015-16 had, therefore, envisaged a new source of funds in the form of Institutional Finance. It was a big achievement that within a few d .....

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matches the Railways requirement of long term funds for investment in projects. LIC funds will carry low interest rates tied to Government security, and the cost of funds are expected to come down further over a period of time. Shri Suresh Prabhakar .....

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He said that these funds will not only meet the requirement for the new railway projects but will also be utilised for those ongoing projects which will bring quick benefit to the railway system. He said that this arrangement of funds from LIC will b .....

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