IFCI, after making a substantial NPA's clean up and significant recoveries exercise in the year 2018-19, specifically in the ailing power sector has prepared a detailed corporate business plan and got approved by its Board of Directors at the meeting held on June 24, 2019, based on the prevailing economic, banking and finance conditions and status.
Apart from covering the areas of sanctions, disbursements, advisory and aggressive recoveries from NPAs, the plan also envisages sale of non-core assets & investments, including proposed sale of shareholding in National Stock Exchange of India and other divestments. The plan for divestments and monetisation is however, subject to statutory / regulatory clearances and other required approvals.
IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
