IFCI Approves Stake Sale in Tourism Finance Corporation

2019 ias preliminary exam test series

IFCI board has given its approval to sell the company’s entire 26.09 per cent stake in Tourism Finance Corporation of India Ltd (TFCI).

TFCI has been the only government-promoted financial institution for funding tourism projects.

IFCI had 29.36 per cent stake in TFCI. The other main shareholders include Bank of India (4.70 per cent), Life Insurance Corporation (6.71 per cent), United India Insurance Co (1.48 per cent) and Oriental Insurance (1.07 per cent).

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