IRFC: Indian Railway Finance Corporation
The full form of IRFC is “Indian Railway Finance Corporation“. IRFC is a finance arm of the Indian Railway. It raises financial resources for expansion and running through capital markets and other borrowings. Indian Railways (IR) is India’s national railway system operated by the Ministry of Railways. Indian Railway runs more than 20,000 passenger trains daily, on both long-distance and suburban routes, from 7,349 stations across India. The trains have five-digit and four-digit numbering system. In the year ending March 2018, IR carried 8.26 billion passengers and transported 1.16 billion tonnes of freight.
Indian Railways is headed by a seven-member Railway Board whose chairman reports to the Ministry of Railways. Railway Board also acts as the Ministry of Railways. The officers manning the office of Railway Board are mostly from organised Group A Railway Services and Railway Board Secretariat Service. IR is divided into 18 zones, headed by general managers who report to the Railway Board. The zones are further subdivided into 68 operating divisions, headed by divisional railway managers (DRM).
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