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NIIF makes equity investment of less than Rs 5,000 crore in 5 years
PTI
New Delhi |
Updated on
January 24, 2021
NIIF has made an equity investment of Rs 4,689 crore, while the co-investment by its partners stood at about Rs 7,053 crore at the end of September 2020. - P V SIVAKUMAR
NIIF has made an equity investment of Rs 4,689 crore, while the co-investment by its partners stood at about Rs 7,053 crore at the end of September 2020. - P V SIVAKUMAR×
The National Investment and Infrastructure Fund (NIIF) in its five years of existence has made an equity investment of less than Rs 5,000 crore in infrastructure projects, sources said.
When Truth Is Stranger than Fiction, Rumours Are Easily Believed
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On 14th December, a hitherto unknown website, called scamsbreaking .com, stirred up a social media storm with stunning allegations about the Kolkata-headquartered SREI group that has a large footprint in infrastructure and finance. The allegation that made people sit up was that Axis Bank (mainly) had lent a stunning Rs44,000 crore to the group without adequate due diligence.
The report made waves because the SREI group is already under scrutiny with the Reserve Bank of India (RBI) having ordered a special forensic audit of SREI Infrastructure Finance and its subsidiary SREI Equipment Finance on 22nd November.
Axis Bank refutes reports of Rs 44,000 crore loan to SREI Group as baseless
Axis Bank said that its outstanding loan to SREI entities and SREI group (including SREI entities) stood at Rs 411 crore and Rs 800 crore, respectively, as on December 14, 2020
Chitranjan Kumar | December 15, 2020 | Updated 23:09 IST
ScamBreaking.com alleged that Axis Bank provided Rs 44,000 crore loan to SREI Infrastructure and Finance
Axis Bank on Tuesday clarified on a claim by Australia-based news portal, Scams Breaking, that the private sector lender provided loans to Kolkata-based SREI Infrastructure to the tune of Rs 44,000 crore without any due diligence and verification of end use of the loan amount.