IFCI to partially disinvest its shareholding in TFCI

IFCI will partially disinvest its shareholding in Tourism Finance Corporation of India (TFCI) in Financial Year 2014-15.

TFCI provides financial assistance in form such as Rupee Loan, Underwriting of public issues of shares/debentures and direct subscription to such securities, guarantee of deferred payments and credit raised abroad, equipment finance, equipment leasing, assistance under suppliers' credit, working-capital financing, takeover financing and advances against credit-card receivables.

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.