PFC arm gets nod to operate from Gift City

New Delhi: Power Finance Corporation (PFC) Limited on Wednesday said its arm PFC Infra Finance IFSC Ltd has received approval from International Financial Services Centres Authority to commence business as a finance company in IFSC GIFT City, Gujarat.

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PFC Infra Finance IFSC Ltd (PIFIL) will be the first finance company in IFSC dedicated to power and infrastructure sector lending, the company said in a statement.

PIFIL aims to provide lending in India and other countries in foreign currency, catering to government as well as private players.

The establishment of PIFIL will position PFC as a global brand and contribute to strengthening India's position as a global financial hub.

IFSCA chairperson K Rajaraman presented the Certificate of Registration (CoR) to Parminder Chopra, Chairperson PFC & PIFIL.

"As we commence operations, funding for energy transition will be a key focus, aligning with India's strong push towards clean energy sources," Chopra said.

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