Click to play videoNew Delhi: The Reliance Company doesn’t lose often and for that matter neither do the owners, Mukesh and Anil Ambani. However, stealing their thunder is Railway Minister Lalu Prasad.
The Indian Railways has borrowed $125 million or about 540 crore rupees from the US markets though private placement, and at an interest lower than anything Reliance Industries of Reliance Energies have ever managed.
“The rate was 6.35 per cent and 6.3 per cent for Reliance Industries and 6.5 per cent for Reliance Energy. We have succeeded in borrowing at 5. 94 per cent,” says OSD, Railway Ministry, Sudhir Kumar.
Rail Ministry officials say Indian Railways has come of its own as a credit-worthy corporate entity, and the money will be put to good use.
Says Kumar, “The money will be spent on the rolling stock programme and also the capacity expansion programme of the Railways.”
And the attempts by the Rail Ministry to become a viable and efficient corporate entity aren't going entirely unnoticed.
US business schools like Harvard and Wharton have already come down to study this great Indian turnaround story. And it is now the turn of the US establishment.
India's biggest employer is on the chugging along the path of recognition, and this time it is a kind of international recognition that public sector navratna are yet to receive.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
TOP NEWS
MOST SHARED
PHOTOGALLERY
