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IFCI’s stake sale in lender TFCI worries tourism industry

IFCI’s stake sale in lender TFCI worries tourism industry

Tuesday, March 21, 2017, 4:12 PM

Project financier IFCI Ltd’s decision to sell its entire ownership of about 33.5% in India’s only dedicated lender to the tourism industry has stoked concerns that the move may enhance credit flow to other sectors at the expense of hotels, recreation, and travel-related companies. In existence for more than 25 years, TFCI is the only government promoted financial institution for funding tourism projects.
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