New Delhi: In the wake of coronavirus (COVID-19) pandemic in India, Navratna power PSU, Power Finance Corporation Limited (PFC), a leading NBFC under the Ministry of Power, stepped out for the help of the societies in the fight against the pandemic. The company said that it has agreed in principle to provide financial assistance of Rs 50,00,000 (Rupees Fifty Lakhs only) to Indian Red Cross Society.
PFC has provided this financial assistance under its corporate social responsibility (CSR) initiative. As per the company, the financial aid provided by PFC will be used for distribution of health masks and sanitizers, as a part of preventive measures against COVID-19, in the state of Rajasthan through Indian Red Cross Society.
PFC stands strongly by society in these testing times. As a responsible corporate, PFC will work towards implementation of all precautionary measures to deal with the pandemic
"PFC stands strongly by society in these testing times. As a responsible corporate, PFC will work towards implementation of all precautionary measures to deal with the pandemic," said PFC in a statement.
PFC is under the administrative control of the Ministry of Power. PFC has been named Asia's most trusted companies for 2019 by IBC. PFC was given the coveted title based on comprehensive research conducted by IBC, a division of the international brand consulting corporation bases in the USA. PFC has been conferred the title of a 'Navratna CPSE' in June 2007 and was classified as an Infrastructure Finance Company by the RBI on July 28, 2010. PFC is playing a crucial role in the rise of India as a global player.