January 17, 2013 9:13 AM

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Govt to consider NIF re-capitalizing PSBs & insurance cos

The government is likely to consider a proposal today that seeks to expand the scope of the National Investment Fund (NIF) to recapitalise public sector banks and insurance companies.It is expected that the fund will be brought under the Consolidated Fund of India. Currently, funds generated from disinvestment of public sector companies go to NIF and are used for financing select social sector schemes and meeting capital investment needs of profitable as well as revivable state firms.

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