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ICICI, Citi, BoB to form NBFC to fund core sector
In a first of its kind alliance, three lenders have joined hands to form a non-banking finance company (NBFC) to support infrastructure development in the country. The largest private sector lender, ICICI Bank, the third largest public sector lender, Bank of Baroda, and Citi Financial (the NBFC arm of Citigroup) will form the first infrastructure development fund (IDF). While ICICI Bank and BoB will