PFC signs performance MoU with the Govt for FY 2022-23

New Delhi: Power Finance Corporation Limited (PFC) has signed an MoU with the Ministry of Power for FY 2022-23 on December 6 in line with the DPE guidelines.

The MoU has been signed by PFC's Chairman & Managing Director (CMD) Ravinder Singh Dhillon with Ministry of Power's Secretary Alok Kumar in the presence of Ministry of Power's Special Secretary & Financial Advisor Ashish Upadhyaya, Additional Secretary Ajay Tewari, Joint Secretary Piyush Singh, and PFC's Director (Finance) Parminder Chopra, Director (Projects) Rajiv Ranjan Jha.

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 the government of India for the 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.

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