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IFFCO to buy stake
NEW DELHI,
OCT. 12.
The Indian Farmers Fertiliser Cooperative today said it would acquire 13 per cent equity in a collateral management company, jointly promoted with National Commodity and Derivative Exchange, some nationalised banks and Geneva-based Audit Control & Expertise. IFFCO would invest Rs. 4 crores to acquire the stake in the new company, National Collateral Management Services Ltd, an IFFCO release said here. The company would act as a service provider to facilitate linkages between the commodity exchange, banks and farmers.
PTI
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