New Delhi: Power Finance Corporation (PFC) board on Friday approved a plan to borrow a sum of Rs 1 lakh crore under different debt segments. The amount will be borrowed in one or more tranches in the financial year (FY) 2021-22. PFC gave this information in a statutory filing. The board of directors at their meeting on Friday, February 26, 2021, approved the proposal for raising of resources i.e. "market borrowing programme under different debt segments in one or more tranches/series for FY2021-22," it said.
The company plans to raise a maximum of Rs 60,000 crore from long-term borrowing, Rs 20,000 crore from long-term foreign currency borrowing, Rs 5,000 crore from short-term borrowing and Rs 15,000 crore from commercial papers, it said. PFC said the fund will be raised from time to time with the approval of the competent authority.
PFC operates under the administrative control of the Ministry of Power and is the largest non-banking financial corporation (NBFC) in the power sector in India.
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