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State-run insurance major
LIC on Wednesday committed Rs 1.5 lakh crore to the Indian Railways for
development of various commercially viable projects in one of the
largest railway networks in the world.
In This Pic : LIC, Indian Railways
Pic Courtesy : BCCL
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The investment would be
made over a period of five years. "LIC has taken the task of supporting
Indian Railways... It is a commercial decision... LIC will invest Rs 1.5
lakh crore over a period of five years," finance minister Arun Jaitley
said.
In This Pic : LIC, Indian Railways
Pic Courtesy : BCCL
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The investment would be
done in bonds issued by various railway entities such Indian Railways
Finance Corporation (IRFC), beginning next fiscal.
In This Pic : LIC, Indian Railways
Pic Courtesy : BCCL
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On an average, LIC will be
subscribing bonds worth Rs 30,000 crore over next five years, its
Chairman S K Roy told PTI after the signing of MoU between Indian
Railways and LIC.
In This Pic : LIC, Indian Railways
Pic Courtesy : BCCL
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