The Full Form of IIFCL
IIFCL Full Form – The Full Form of IIFCL in banking terms is India Infrastructure Finance Company Limited, which was founded in 2006 under the Government of India and has been accredited AAA by several rating agencies. The IIFCL provides consultancy and finance services for managing assets of infrastructure projects and is mainly involved in the corporate banking sector. The IIFCL mainly provides financial assistance to sectors like communication, transportation, sanitation, commercial infrastructure, etc. Since 2013, the IIFCL has been registered as the Non-Depositing Non-Banking financial institute under the Reserve Bank of India.
IIFCL proved to be of utmost importance to infrastructure projects in India because these projects require long term funding, where several commercial banks fail to outsource this need due to a mere mismatch in assets and liabilities. IIFC mainly focuses on infrastructure projects which are selected under Public-Private Partnerships. IIFCL has the policy to provide loans up to only 20% of the total project cost, and it raises funding through domestic and international markets through government guarantees.
In 2011, IIFCL under the Securities and Exchange Board of India (SEBI) issued guidelines regarding the Infrastructure Debt Fund, also known as IIFCL Mutual Funds. The IIFCL mutual funds in 2012 were constituted as a trusted entity under the Indian Registration Act of 1908, and functions in compliance with the provisions of the Indian Trust Act 0f 1882. The IIFCL Asset Management Company Limited (IAMCL) is governed by a council with 6 directors, and it manages several schemes under the fund.
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