IRFC Board approves authorisation of market borrowing for FY22

The Board of Directors of Indian Railways Finance Corporation at its meeting held yesterday on 19 May 2021 approved the authorisation of market borrowing by IFRC during 2021-22.

Amount of funds to be mobilized from sources like issue of taxable bonds including capital gains bonds U/S 54 EC of Income Tax Act, tax free bonds, government guaranteed / serviced bonds , ECB, long term bank loans, securitization of future lease receivables from the Railways etc. during the financial year 2021-22 may not exceed the present mandated amount of Rs 65258 crore or the revised mandated amount as mandated by MoR.

It is further informed that in order to meet the borrowing target mandated by MoR, company may raise funds at regular intervals.