(News) In Next Few Months Railway Will Issue Tax Free Bonds
In Next Few Months Railway Will Issue Tax Free Bonds
State-owned Indian Railways Finance Corp, the fund-raising
arm of the Indian Railways, is planning a public issue of its tax-free bonds in
December.
Funds raised by IRFC are used for buying locomotives, wagons and coaches, with a
small chunk going to Rail Vikas Nigam Limited to fund bankable projects. The
Railways pays back IRFC from the passenger and freight services earnings.
“We have already filed the draft prospectus and we plan to come out with the
public issue sometime in December,” an official told Deccan Herald.
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Courtesy : Deccan Herald.