Indian Railway Finance Corporation Ltd. (IRFC) is a committed financing arm of the Ministry of Railways.IRFC’s share in support of the most productive high capacity wagons and high horse power locomotives is very significant.
The bonds will be published by Indian Railway Finance Corporation (IRFC), which will be tax-free, fixed, redeemable and non-convertible, carrying an interest rate in the range of 6.5% to 7.25% per annum. The number of bonds sanctioned for issue are 95,20,000 with adulthood value of Rs 20,000, each having life period of 10 years. Income on such bonds will be taxed only on maturity as capital gain. The finance ministry on Monday sanctioned issue of bonds by railways worth Rs 5,000 crore for the financial year ending March 31, 2010. The bonds will be available in the form of public issue.
Indian Railway Finance Corporation Ltd.
(A Government of India Enterprise)
Regd. Office: UG – Floor, East Tower, NBCC Place,
Bhisham Pitamah Marg, Pragati Vihar,
Lodi Road, New Delhi – 110003