Government appoints Rahul Bhave as MD and CEO of Ifci for three years

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Government appoints Rahul Bhave as MD and CEO of Ifci for three years - Business Standard

Quick Summary:

The finance ministry, in November 2024, in principle approved the 'Consolidation of IFCI Group', which entails the merger/amalgamation of IFCI Ltd and StockHolding Corporation of India Ltd and other group companies.

The government has approved the appointment of Rahul Bhave as Managing Director and CEO of financial institution IFCI.

The Industrial Finance Corporation of India (IFCI) was set up by the government on July 1, 1948, as the first development financial institution in the country.