Address by Mr Atul Kumar Rai, CEO & MD, IFCI Ltd at the Hindustan Times Leadersip Summit held onOctober 30-31, 2009 at Taj Palaca Hotel, New Delhi
IFCI celebrates sixty one years of its nation building endeavour today. On an occasion such as this, it is difficult to proceed without paying a tribute to what we owe to our legacy. From the perspective of ownership, IFCI was a strange entity even when it was born. Although, promoted by the Government through a legislation to step up investment in manufacturing and industrial projects, IFCI was never directly owned by the Government. Even the repeal of IFCI Act only expanded the ownership of IFCI to a wider base covering not only institutions, but also the general public. Today, nearly half of IFCI’s holding is with about a million shareholders. In the present day context, the ownership model of IFCI retains relevance as it combines the values of public welfare with that of private ownership. This is a legacy which we continue to be justifiably proud of. It ...Read More »