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LIC will invest up to Rs 26,000 crore in IRFC

Thursday, July 5, 2018, 11:26 AM

State-owned insurer LIC of India will invest up to Rs.26,000 crore this financial year in the Indian Railways Finance Corporation (IRFC), the market-financing arm of the railroad transporter, through bond subscriptions. The cost of the 30-year money is just 30 basis points higher than the benchmark bond yield, with a mechanism to reset the rate every 10 years, a top government official told.

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