IRFC awarded Navratna status by Government of India

Indian Railway Finance Corporation (IRFC) has been granted Navratna status by the Government of India. IRFC, established in 1986, plays a crucial role in financing the expansion and modernization of Indian Railways. As of March 31, 2024, IRFC boasts a revenue exceeding ₹26,600 crore and a profit after tax surpassing ₹6,400 crore, making it the third-largest government NBFC in India. With a market capitalization exceeding ₹2,00,000 crore, IRFC has been instrumental in funding approximately 80% of Indian Railways' rolling stock. The company is expanding into sectors beyond railway assets, including power generation, mining, and telecommunications.