Financial Daily from THE HINDU group of publications
Tuesday, Mar 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 14, 2006 |
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Money & Banking
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People Industry & Economy - Infrastructure Ex-PNB chief to head IIFCL Our Bureau
New Delhi , March 13 The former Chairman and Managing Director of Punjab National Bank, Mr S.S. Kohli, has been appointed the first Chairman and Managing Director of India Infrastructure Finance Company Ltd (IIFCL). IIFCL was incorporated on January 5, 2006 with a paid up capital of Rs 10 crore and an authorised capital of Rs 1,000 crore. IIFCL has been set up by the Government to fill the gap for long term infrastructure finance that banks are not in a position to address, owing to concerns relating to mismatches in assets and liabilities.For 2005-2006, the borrowing limit had been fixed at Rs 10,000-crore.
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