It's true that money can't buy happiness but it certainly paves the way for happiness. Believing in the dictum, VP Singh, Chairman and MD, Industrial Finance Corporation of India Limited too has brought smiles to numerous individuals and industrialists in the country. A man who believes that economy is the backbone of a nation, Singh has dedicated his life to the industrial growth of the country by providing invaluable advice and financial help. Singh, whose career spans through decades in the banking and financial sector, has played determining role in making the IFCI one of the most efficient and professionally managed financial institution in the country.

Today, the IFCI is fast moving towards segregating its non-performing assets with the ultimate objective to make itself an asset reconstruction company. It is trying to evolve new business paradigm in finance while improving its existing portfolio. The contribution of IFCI towards strengthening the nation's economy has been tremendous. It has sanctioned financial assistance of more than Rs 462 billion to 5707 concerns and disbursed Rs 443 billion since inception. In the industrial and infrastructure sectors, its investment worth is more than Rs 2,526 billion.

It goes without saying that the magnificent growth of IFCI over the decades has largely been possible because of people like Singh who have steered the course of the institution towards more profitability and higher growth. As a result of adopting new strategy to meet the market's demand, the IFCI, over the years have diversified as a mid-corporate specialist, catering to the needs of small and medium enterprises (SMEs). In order to augment its profits, the company has further expanded itself in areas like loan syndication, Project finance, receivables financing, asset financing, IPO management mergers and acquisitions and corporate advisory services.

The IFCI's I-FIN has made tremendous progress over the years and today, it is a major player in portfolio management and brokerage. The development of an institution is largely depended on the individuals heading it and for IFCI's growth, the man behind its success today is none other than Singh.