Financial Daily from THE HINDU group of publications
Sunday, Nov 27, 2005
Financial Daily from THE HINDU group of publications Sunday, Nov 27, 2005 |
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Money & Banking
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Mergers & Acquisitions Government - Politics Left for speedy merger of IFCI with IDBI Our Bureau
New Delhi , Nov. 26 THE Left parties have thrown their weight behind an early merger of the Industrial Finance Corporation of India (IFCI) with the Industrial Development Bank of India (IDBI). Addressing a meeting of the IFCI Officers' Association, headed by the CPI (M) leader in the Lok Sabha, Mr Basudeb Acharya, leaders from the CPI and the RSP pledged their support to the association's struggle for effecting a merger between the two financial institutions. Speaking at the meeting, the Communist Party of India (CPI) Secretary, Mr D. Raja, and the Member of Parliament from the Revolutionary Socialist Party (RSP), Mr Manoj Bhattacharya, said the IFCI had become a victim of a larger conspiracy involving multi-national pressures on the Government to adopt `neo-liberalism,' and added that it was not the lone institution that had suffered.
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