IIFCL

Appreciating the measures taken by IIFCL, a Parliamentary panel said initiative taken by the state-owned entity will keep bad loans under check and also help it in discharging its role as a pioneer lender in financing infrastructure projects. India Infrastructure Finance Company Limited (IIFCL) is a public sector financial institution established in January 2006 that is wholly-owned by the government of India. According to the Committee on Public Undertakings (COPU) submitted recently in Parliament, measures taken will go a long way in improving and strengthening the functioning of IIFCL. The company has put in place a Board approved Management Policy which lays out the Directives and Guidelines for time-bound resolution of NPA by taking proactive actions. The proactive actions are towards close monitoring, constant follow-up and evolving suitable modes for early resolution/ recovery of dues in line with the prescribed norm/guidelines of RBI and other applicable statutory/ regulato

In an interview with Nikesh Singh, IIFCL managing director PR Jaishankar talks about the way ahead for the key infra financier

To support the massive growth in the aviation sector, the India Infrastructure Finance Company Limited (IIFCL) has extended a credit of Rs 6,630 crore for the development of six major airports in the country and looks forward to increasing its exposure in the coming years, said its managing director P R Jaishankar. Bullish on the growth of the aviation sector in the country, he said, the IIFCL also given in-principle approval of Rs 638 crore for the development of a greenfield airport in Andhra Pradesh. Over the past few years, India has seen massive growth in the airport sector, with increasing investments from both government and private sector, thanks to a rising proportion of middle-income households, infrastructure build-up at leading airports and supportive policy framework. "With an aim to finance development of world class airport infrastructure in India, IIFCL has, till date, sanctioned Rs 6,630 crore to six major airports in India in Delhi, Mumbai, Hyderabad, Navi Mumbai,

State-owned IIFCL has sanctioned Rs 8,244 crore loans to about 20 projects to help add 836 million tonnes per annum (MTPA) of ports capacity, which is one-fourth of India's total cargo volumes, a top company official said. India's total port capacity is about 2,600 MTPA. Of this, 12 major ports' cargo handling capacity stood at 1,598 MTPA as of March 2022. India Infrastructure Finance Company Ltd (IIFCL) has has been extending its financial support to many strategic port projects, including the Paradip Port, Essar Vizag port, Tuticorin, Krishnapatnam, Karaikal. "The latest is the Ramayapatnam port, which reinforces our belief in this very important sector and the potential it holds to improve connectivity, bring down logistics costs, and provide a boost to the economy," IIFCL Managing Director P R Jaishankar told PTI. With investment in three upcoming ports including Ramyapatnam and Bhavanapadu, he said, the capacity would touch 1,000 MTPA with these ports going on stream in a coup

With regard to asset quality, IIFCL has brought down gross non-performing assets (NPAs) to 9.22 per cent from 13.9 per cent a year ago.

India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government's infrastructure vision.

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This marks IIFCL's first transaction under this initiative, the company said in a statement on Sunday. The NCDs are of a tenor of 10 years.

IIFCL is aiming at loan sanctions worth over Rs 23,000 crore and disbursements of Rs 14,000 crore in 2021-22 depending on the project pipeline available in the market.

The gross NPA of the company too declined to 13.9 per cent from 19.70 per cent in the previous financial year.

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IIFCL is a government-owned entity, which is registered as a non-deposit accepting loan company with the Reserve Bank of India.

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This infusion has increased the paid-up equity share capital of IIFCL to Rs 9,999.92 crore against the authorized share capital of Rs 10,000 crore.

Another Rs 10,000 crore will be infused in 2020-21