Pfs Seek Govt Guarantee On Ifci Fund Rollover

Beleaguered FI seeks to roll over bonds by another five years

Provident fund (PF) managers and trustees have demanded central government guarantee as a precondition to accept the rollover of their investments made in the beleaguered IFCI.

The financial institution wrote to the retirement funds on May 30, requesting that they re-consider extending the maturity of payments five years from the original date of maturity. Many of the bonds come up for redemption in September 2003.