Railways to raise Rs.8,000 cr in Jan-March

Indian Railway Finance Corporation (IRFC) will raise Rs 8,000 crore in the January-March quarter of the current fiscal. It has Reserve Bank of India´s approval for raising $500 mn (Rs 3,140 crore approximately) through external commercial borrowings (ECB). Reportedly, IRFC has already handed over Rs 4,000 crore in the current fiscal to the Railways, from unused internal accruals and funds raised last fiscal. This was done to acquire locomotives, wagons and coaches. Going ahead, IRFC plans to raise about Rs 11,790 crore for the current financial year, of which Rs 290 crore will go towards bankable projects of Rail Vikas Nigam Ltd. Contact: Ministry of Railways. Website: www.indianrailways.gov.in