The Reserve Bank of India has sought an immediate infusion of Rs 850 crore into IFCI Ltd to meet the stipulated capital adequacy ratio of 9 per cent against the 6.7 per cent level at the end of March this year.
IFCI has, however, sought a Rs 1,000 crore bail-out package either through convertible bonds, direct equity or long-term preference shares.
Finance minister Yashwant Sinha has convened a meeting of IFCI stakeholders on Wednesday to discuss the issue.
Sources said that IFCI has sought capital infusion as the best course of action since it would help in mobilising funds and improve its cash flow situation.
A meeting convened by finance secretary Ajit Kumar here today proved inconclusive with the stakeholders
