Indian Railway Finance Corporation Limited is an India-based company, which is engaged in mobilizing funds from domestic and international markets for supporting infrastructure development of Indian Railways. The Company's main business is to provide leasing and financing to railway sector in India. Its business is leasing of rolling stock assets, railway infrastructure assets and lending to other entities under the Ministry of Railways (MoR). The normal rolling stock asset lease term is 30 years, with a primary component of 15 years and a secondary component of 15 years. During the primary lease period, the principal component and interest are recovered as part of the lease. During the secondary lease period of 15 years, it receives a nominal rent. Its lending operations include providing loans to Rail Vikas Nigam Limited and IRCON. Its borrowing operations include taxable and tax-free bonds issuances, term loans from banks and financial institutions, commercial papers, and others.