New Delhi: Power Finance Corporation (PFC), a Navratna PSU and India's leading NBFC, has signed a memorandum of agreement (MoA) with Indian Institute of Technology-Kanpur (IIT-Kanpur) for training, research, and entrepreneurship development in smart grid technology. Under this MoA, PFC will provide financial assistance of Rs 2,38,97,000 to IIT-Kanpur under its corporate social responsibility (CSR) initiative.

PFC's Executive Director (CSR&SD) R Murahari informed that the objective of the pact is to provide support to IIT-Kanpur in developing infrastructure for research and development on smart grid technology. As part of the project, IIT-Kanpur will also provide training on smart grid technology to 90 participants and provide fellowship to nine selected candidates for the development of ideas on smart grid technology. The fellows will be assisted by start-ups innovation and incubation centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

PFC's Chief General Manager (CSR&SD) M Prabhakar Das and IIT-Kanpur's Professor (Dean Resource and Alumni) Jayant Kumar Singh signed the agreement on behalf of respective organisations on a virtual platform.

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