Many firms’ pension funds may lose Rs 20k-crore in IL&FS bonds


Many firms’ pension funds may lose Rs 20k-crore in IL&FS bonds

Infosys, State Bank of India and GIC Re feature in the list of companies whose employees face potential hits to their retirement savings, with pension funds at these entities investing in various debt papers of the troubled infrastructure financier IL&FS.

These standalone provident funds have invested in debt securities such as bonds and intercorporate deposits sold by the IL&FS group companies.

Funds from large corporates, including Bharat Heavy Electricals Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), Vizag Steel and Food Corporation of India (FCI) and Hyderabad-based NMDC, have exposure to the infrastructure financier. Read More

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