Railways had signed an MoU with LIC in March this year for financial assistance of Rs 1.5 lakh crore over the next five years for implementing railway projects.
IRFC will issue bonds to be subscribed by LIC for the purpose, said a senior Railway Ministry official.
Though the financial assistance is available from the current fiscal, there would be a five-year moratorium on interest and loan repayment.
Railway Minister Suresh Prabhu will be the chief guest at the function to mark the handing over of the first cheque of Rs 2,000 crore by LIC to IRFC towards financial assistance to Railways as per the MoU.
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