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Banks to offload infra portfolio to IIFCL

Banks to offload infra portfolio to IIFCL

The government will ask banks to sell their infrastructure portfolio to state-run Indian Infrastructure Finance Company (IIFCL) to free up funds and reviving a crucial scheme for long-gestation projects. The take-out financing scheme, kicked off in April last year, has proved to be a non-starter with only 70 crore sanctioned so far by IIFCL, which is sitting on a cash pile of Rs 8,000 crore.

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