Government plans to set up Telecom Finance Corporation
The central Government has proposed to establish a Telecom Finance Corporation (TFC) in the 12th Five Year Plan period (2012-17). As per the proposal, TFC would be registered as Non-Banking Finance Company and Non-Deposit Infrastructure Finance Company. It would be a Public Sector Unit (PSU) under the administrative control of Department of Telecom (DoT).
The time frame to establish the main sources of funds for TFC shall be through issue of taxable and tax-free bonds. The other sources of funds include term loans from banks/financial institutions and off-shore borrowings and borrowings from multilateral institutions such as Asian Development Bank, International Monetary Fund, World Bank and other sovereign funds.
Categories: India Current Affairs 2017