Eyeing re-entry into CDR cell; healthy loan growth: IFCI

Delhi-based financial company IFCI is looking at a re-entry into the corporate debt restructuring (CDR) cell. Speaking to CNBC-TV18, MD & CEO SB Nayar says: "If and when they (corporates) apply for restructuring, I would like to be a part of that and also get the same advantage which the banks get." 

IFCI had changed its business model. It had become active more on the short-term funding side. Most CDR exposure (of lenders) pertains to the long-term. Hence, it decided to move out of CDR cell last year. Nayar says the company exited CDR as the management was confident of outside settlements.

In terms of business, Nayar expects loan growth to be better than last year as the IFCI's balance sheet had shrunk.

"So we are able to get some good corporates to come—who were not dealing with IFCI earlier, now to come into IFCI. But resources raising is the problem for all non-banking financial companies (NBFCs) now because the bank got tied up we have our own access to any fund other than the bank fund. So bank funds are not easy to come by these days. We are very confident; in fact, we have already started growing our loan book," he told CNBC-TV18.

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