Measures taken by IIFCL to keep bad loans under check: Parliament panel
Appreciating the measures taken by IIFCL, a Parliamentary panel said initiative taken by the state-owned entity will keep bad loans under check and also help it in discharging its role as a pioneer lender in financing infrastructure projects.
India Infrastructure Finance Company Limited (IIFCL) is a public sector financial institution established in January 2006 that is wholly-owned by the government of India.
According to the Committee on Public Undertakings (COPU) submitted recently in Parliament, measures taken will go a long way in improving and strengthening the functioning of IIFCL.
The company has put in place a Board approved Management Policy which lays out the Directives and Guidelines for time-bound resolution of NPA by taking proactive actions.
The proactive actions are towards close monitoring, constant follow-up and evolving suitable modes for early resolution/ recovery of dues in line with the prescribed norm/guidelines of RBI and other applicable statutory/ regulato