PFC signs MoU with Ministry of Power for FY 2022-23

By Newsdesk December 6, 2022 19:14

New Delhi, Dec 06 Power Finance Corporation Limited – the largest government owned NBFC and a Maharatna CPSE, signed an MoU for FY 2022-23 with Ministry of Power on 6th December 2022 in line with the DPE guidelines.

Ravinder Singh Dhillon, CMD, PFC signed the MoU with Alok Kumar, Secretary, Ministry of Power in the presence of Ashish Upadhyaya, Special Secretary & FA, MoP, Ajay Tewari, Additional Secretary, MoP, Piyush Singh, Joint Secretary, MoP, Parminder Chopra, Director (Finance), PFC, and Rajiv Ranjan Jha, Director (Projects), PFC.

Established in 1986, PFC today is the largest government owned NBFC in India. In 2021, it became the first CPSE to be accorded the prestigious Maharatna status in the financial space. PFC has been showing a strategic shift in its loan portfolio with focus on the Renewables space, setting itself as one of the largest funding agencies for renewables in the country. Recently the company got its MoA changed to fund the infrastructure and logistics space as well.

It is a key partner to Government of India for implementation of several schemes such as Revamped Distribution Sector Scheme (RDSS), Liquidity Infusion Scheme under Atmanirbhar Bharat, Late Payment Surcharge Rules (LPS), Independent Transmission Projects (ITPs) etc and has been one of the highest dividend paying companies.