IRFC Refinances Rs.9,821 Crores to DFCCIL from World Bank
On December 23, 2025, the Indian Railway Finance Corporation Limited (IFRC), under the Ministry of Railways (MoR), has refinanced a Rs.9,821 crore loan originally taken by the Dedicated Freight Corridor Corporation of India Limited (DFCCIL), under MoR, from the World Bank(WB).
On December 23, 2025, the Indian Railway Finance Corporation Limited (IFRC), under the Ministry of Railways (MoR), has refinanced a Rs.9,821 crore loan originally taken by the Dedicated Freight Corridor Corporation of India Limited (DFCCIL), under MoR, from the World Bank(WB).
- The refinancing was done through a rupee-denominated term loan from IRFC to DFCCIL in the presence of Satish Kumar, Chairman & Chief Executive Officer (CEO), Railway Board, along with senior officials of IRFC and DFCCIL.
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- What? IRFC refinanced a World Bank loan taken by DFCCIL.
- Value: Rs.9,821 crores
- Purpose: To refinance foreign currency debt for EDFC project
- Signatories: Rahul Kapoor (DFCCIL) and Deepa Kotnis(IRFC)
About IRFC’s Rupee Loan to DFCCIL:
Signatories: The agreement was signed between Rahul Kapoor, Director (Finance), DFCCIL and Deepa Kotnis, Executive Director(ED) (Finance), IRFC.
Purpose: This loan is being used to refinance DFCCIL’s existing currency debt from the WB for the Eastern Dedicated Freight Corridor (EDFC) project.
Exchange Rate Volatility: Through the conversion of debt from foreign currency to rupee terms, DFCCIL reduces exposure to exchange rate volatility.
- Rupee-denominated loans typically align better with domestic revenue streams, improving predictability in debt servicing and potentially lowering costs.
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