Total income registers an increase of 15% to Rs. 9,232 Crores Power Finance Corporation (PFC), India’s leading NBFC focused on the power sector and a PSU under Ministry of Power, for the quarter ended 30th September 2020, registered a growth of 80% in its standalone net profit to Rs 2085 crore and 14% growth […]
Loans worth Rs 1.18 lakh crore sanctioned under discom liquidity package
In May, Finance Minister Nirmala Sitharaman had announced Rs 90,000 crore liquidity infusion into cash-strapped discoms facing demand slump due to the COVID-19 crisis. New Delhi: Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation and REC Ltd under the liquidity package for stressed power […]
Discoms’ outstanding dues to power gencos rise 37 percent to Rs 1.33 lakh crore in August
In August 2020, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs 1,20,439 crore, as against Rs 78,646 crore in the year-ago period. NEW DELHI: Power producers’ total dues owed by distribution firms rose over 37 per cent year-on-year to Rs 1.33 lakh […]
MOU between Ministry of Power & Power Finance Corporation
MOU between Ministry of Power & Power Finance Corporation For more information please see below link:
PFC to raise foreign currency borrowing going ahead: CMD
The CMD noted that on the borrowing front, the company’s efforts towards diversification of the borrowing portfolio has started yielding results. He said that PFC Group disbursed more than Rs 1.4 lakh crore in the last financial year New Delhi: Power Finance Corporation (PFC) is likely to increase foreign currency borrowing going ahead, said Ravinder […]
PFC ends FY 2019-20 on strong note with loan sanctions of more than Rs 1 Lakh Cr
New Delhi: Government-owned Power Finance Corporation (PFC), India’s leading NBFC focused on the power sector, ended financial year 2019-20 (April-March) on a strong note despite numerous challenges including outbreak of COVID 19. The lending institution delivered a sound financial performance with loan sanctions of more than Rs 1 lakh crore along with Loan Disbursements of […]
Govt-owned PFC accumulates NPAs of Rs 47,454 cr: IEEFA
Author and energy finance analyst Kashish Shah said the PFC and the REC have lent extensively to coal-fired power projects, with Rs 343,746 crore ($49bn), or 54 per cent of their total loan book, exposed to thermal power New Delhi: Government-owned Power Finance Corporation (PFC) has accumulated non-performing assets (NPAs) totalling Rs 47,454 crore ($6.8bn) […]
COVID-19: Odisha govt writes to Centre with suggestions to ease burden of power sector in state
Highlighting the COVID-19 situation across the country, Chief Secretary Asit Tripathy said, “This extraordinary situation demands extraordinary approach in all fronts including the power sector, being the vital enabler for all other essential services” Bhubaneswar: Chief Secretary of Odisha government on Wednesday wrote to the Centre suggesting measures to ease the immediate burden of the […]
Power Finance Corporation, REC merger hits roadblock
In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20 NEW DELHI: The proposed merger of REC with state-owned shadow banking firm Power Finance Corporation has hit a roadblock and is not likely to […]
Power Finance Corporation raises $300 million loan from overseas
The loan has been jointly approved by State Bank of India, Hong Kong and MUFG Bank Ltd, Singapore. New Delhi: State-owned Power Finance Corporation Monday said it has raised USD 300 million (Rs 2,070 crore) loan from overseas. The loan has been jointly approved by State Bank of India, Hong Kong and MUFG Bank Ltd, […]