OREANDA-NEWS. October 21, 2015. Shri Malay Mukherjee, Chief Executive Officer (CEO)& Managing Director(MD), IFCI Ltd. today handed over a Final Dividend cheque of Rs.46.15 crore to the Union Finance Minister Shri Arun Jaitley.

This Final Dividend is of Rs. 0.50 per equity share of Rs.10/- each for the financial year 2014-15. This is in addition to the Interim Dividend of Re.1/- per equity share of Rs.10/- each for the financial year 2014-15 paid in February 2015. The Government of India holds majority stake of 55.53% in equity capital of IFCI.

IFCI was the first Development Finance Institution (DFI) of the country, set-up in 1948, soon after the Independence and has been playing a major role in industrial and infrastructural development of the country since inception. As a part of developmental initiatives, the Institution has promoted various specialized entities like viz. National Stock Exchange of India Ltd., Stock Holding Corporation of India Ltd., Tourism Finance Corporation of India Ltd., North Eastern Development Finance Corporation of India Ltd., Management Development Institute and Rashtriya Gramin Vikash Nidhi (RGVN) etc. IFCI Ltd. is also the Nodal Agency of the Government of India for Sugar Development Fund and Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC).