Ifci: The Penny & #8217;S Dropped Too Late

Sidhartha explains why the much-delayed bail-out package for the financial institution may not prove a durable solution

On Wednesday morning, IFCI Ltd chairman P V Narasimham and his team trooped into North Block, looking hopeful. Three hours later, they trooped out looking gratified. After months of pleading, the finance ministry and shareholders finally agreed to a bail-out.

Between them, the major shareholders