NEW DELHI The government has launched a $2 billion infra debt fund, with private lender ICICI Bank(ICBK.NS) owning the most, Gajendra Haldea, an infrastructure adviser in Planning Commission, said on Monday.
The long-term debt fund will be set up jointly by ICICI Bank, Bank of Baroda(BOB.NS), Citi and Life Insurance Corporation of India (LIC), Haldea added.
ICICI Bank will own 31 percent, while Bank of Baroda will hold 30 percent, Citi 29 percent and LIC 10 percent.
(Reporting by Manoj Kumar and Arup Roychoudhury; editing by Malini Menon)
Trending On Reuters
Uber vs Ola
A flurry of complaints from Uber drivers about an unusually high number of cancelled bookings was the spark that ignited a bitter legal fight with Ola, Uber's rival for dominance of India's $12 billion taxi market, according to court documents and a source with direct knowledge of Uber's case. Article