IL&FS Infrastructure Debt Fund Signed MoU with Eight Public Sector Banks
IL&FS on 13 May 2013 signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs)
IL&FS Infra Asset Management Limited (IAML), an Asset Management Company (AMC) promoted by IL&FS Financial Services Limited (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF), on 13 May 2013 signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs) including Allahabad Bank, Bank of India, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce and UCO Bank for acquisition of infrastructure loans.
Signing this landmark MoU which will pave the way for setting-up of more such infra debt funds and financing thereof.
IIDF will complement domestic banks in providing required funding to infrastructure sector and would be integral part of the IL&FS Group’s efforts in taking India’s infrastructure growth story to the next level.