Indian Railway Finance Corporation Limited (IRFC) is a public sector enterprise of the Ministry of Railways, Government of India. It is the dedicated financing arm of the Indian Railways set up in 1986.
Purpose: The main purpose of the corporation is to mobilise resources from the market for the purpose of financing the acquisition of rolling stock (coaches, wagons, locomotives) and related assets for the Indian Railways.
Year of Establishment: 1986
Ministry: Ministry of Railways
Statutory/Constitutional Status: Statutory Corporation registered under the Companies Act, 1956.
This topic of “Indian Railway Finance Corporation Limited (IRFC) – Purpose & Functions” is important from the perspective of the UPSC IAS Examination, which falls under General Studies Portion.
- IRFC is responsible for raising resources from the market in the form of bonds, term loans and other instruments.
- It also provides financial consultancy services to the Indian Railways.
- It also provides services related to rolling stock financing, project finance and other financial services.