Infosys credits its stellar success to the Karnataka Government. Know why

When no one was willing to help the IT giant Infosys during its infancy, the Karnataka government came to their rescue, said Infosys cofounder NR Narayana Murthy gratefully acknowledging their contribution in the company’s stellar success.

Murthy said it had approached Citibank, Bank of America and a few other banks seeking a loan of Rs 50 lakh, but none of them responded.

Finally, it was Karnataka State Finance Corporation and Karnataka State Industrial Investment & Development Corporation that provided the much needed loan without expecting anything in return, Murthy said.

(Image credits: indiatimes)