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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 Finance Corporation (IRFC) as the first tranche of funding assistance to Railways for its projects. This handing over of cheque was done today i.e. 27.10.2015 at an impressive function at Rail Bhawan in the presence of Ministry of Railways Shri Suresh .....

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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 enhancement projects was a major challenge for Railways. Without investment, it would not be possible to decongest the network, increase traffic output and generate adequate internal resources. He said that without the fresh investment, the Railways would ha .....

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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 said that an important beginning has been made today with the release of first cheque of LIC funds. It is now for the Railways to match up to the challenge of utilizing the funds in a productive and appropriate manner for realizing maximum benefit. .....

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