IDBI panel on SFC refinancing

MUMBAI, JULY 3: IDBI has assured that a committee would be set up to examine recapitalising state financial corporations SFCs. IDBI chairman G P Gupta also emphasised the need for paying more attention to the services sector and agreed to hike the refinance limit upto 80 from the present level of 65.

D C Misra, president of Council of State Industrial Development amp; Investment Corporation of India and vice presidents Man Mohan Singh and P Basumatary had in a meeting with IDBI chairman discussed important issues pertaining to SFCs and State Industrial Development Corporations. IDBI will restructure high interest bearing refinance subject to some upfront payment. Gupta emphasised the need for imparting adequate training to the officers to enable them to face competition.