Indian Railway Finance Corporation (IRFC) has declared highest ever interim dividend of Rs 340 cr for the 2016-17 fiscal.
Railway Minister Suresh Prabhu accepted the dividend cheque from IRFC MD, SK Pattanayak, in the presence of senior ministry officials.
With this, the cumulative dividend payout to Indian Railways has reached Rs 2750 cr, according to a release.
IRFC, a railways PSU, plays a critical role in capital formation for the Indian Railways. Railways gets one fourth of its Plan Fund needs from the PSU.
The railways has a big investment plan of Rs 8.56 lakh cr between FY 2015-16 and FY 2019-20, out of which the target of funding through IRFC has been pegged at Rs 2.50 lakh crore.
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