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companies name

Power Finance Corporation Limited (PFC)

Power Finance Corporation Limited (PFC) is a Navratna PSU under the Ministry of Power. The company was established in 1986. It is the financial backbone of Indian Power Sector. PFC's net-worth as on 30 September 2018 is INR 383 billion. PFC is the 8th highest profit-making CPSE as per the Department of Public Enterprises Survey for FY'2017-18. PFC is India's largest NBFC and also India's largest Infrastructure Finance Company. Initially wholly owned by the Government of India, the company issued an Initial Public Offering in January 2007. The issue was oversubscribed by over 76 times, which is one of the largest for an IPO of any Indian Company.[2] PFC is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It is also an ISO 9001:2000 certified company[3] and enjoys the status of Navratna Company in India. On 6 December 2018, the Government of India approved PFC's takeover of REC. The acquisition transaction was completed on 28 March 2019 with PFC paying almost Rs. 14,500 Crs to the Govt of India for the 52.63% stake.
 

Power Finance Corporation Limited (PFC) News

PFC conferred with ‘IEI Industry Excellence Award 2021’

Power Finance Corporation (PFC) has been conferred with the prestigious ‘IEI Industry Excellence Award 2021....

RDSS: 39 discoms have readied draft action plans to turn around performance, says govt

A total of 39 beneficiary power distribution companies (discoms) out of 55 have submitted draft action plans to turn around their financial performance under the Revamped Distribution Sector Scheme (RDSS)....

PFC’s SS Rao on Reputation Today’s ‘100 Most Important Professionals 2021’ list

Power Finance Corporation's (PFC) Chief GM (PR) SS Rao has been featured in Reputation Today’s ‘100 Most Important Professionals 2021’ list....

Bhaskar Bhattacharya appointed as an Independent Director on the Board of PFC

The Central Government has appointed Bhaskar Bhattacharya as a Non-Official Independent Director on the Board of Power Finance Corporation (PFC) Limited....

PFC enters pact to finance 350 electric buses in Uttar Pradesh

PFC has signed an agreement to lend Rs 275 crore for the deployment of 350 electric buses across nine cities of Uttar Pradesh....

PFC pays second interim dividend of Rs 369.57 crore to Govt for FY22

PFC has paid Rs 369.57 crore to the government and Rs 290.45 crore to other shareholders, totalling to Rs 660.02 crore as second interim dividend for the financial year 2021-22....

IPDS scheme: Jaipur gets another 33/11 KV GIS sub-station

As part of Azadi ka Amrit Mahotsav, a 33/11 KV GIS Sub-station under the IPDS scheme of the government has been inaugurated on November 30 at Ramganj, Jaipur city in Rajasthan....

CSR Watch: Power PSUs contribute Rs 22.50 crore for flood-hit Uttrakhand

Union Power Minister RK Singh presented a cheque of Rs 22.5 crores to the Uttarakhand Minister of Disaster Management, towards a CSR contribution of Power PSUs....

PFC CSR: Haryana CM inaugurates construction of School in Gurugram

PFC has signed a MoA with Haryana State Corporate Social Responsibility Trust for the construction of phase-II of Daulah Smartgram Secondary School in Gurugram as part of its CSR initiative....

PFC & PFCCL observe vigilance awareness week 2021

PFC and its subsidiary PFCCL observed 'Vigilance Awareness Week 2021' with effect on the theme ‘Independent India @75: Self Reliance with Integrity’....

Jaipur gets a 33/11 KV GIS sub-station under the IPDS scheme

As part of Azadi ka Amrit Mahotsav, a 33/11 KV GIS Sub-station under the IPDS scheme of the government has been inaugurated on Saturday at Jaipur in Rajasthan....

Real-time data acquisition system launched in APEPDCL, courtesy PFC

APEPDCL CMD K Santhosha Rao inaugurated the Real-Time Data Acquisition System (RT-DAS) control system under the IPDS scheme of the government of India as part of “Azadi ka Amrit Mahotsav"....

Rajiv Ranjan Jha assumes charge as Director (Projects) of PFC

Rajiv Ranjan Jha, who was earlier serving as Executive Director, has assumed charge as Director (Projects) of Power Finance Corporation (PFC) on Thursday....

Govt appoints Rajiv Ranjan Jha as Director (Projects) of PFC Limited

The Appointments Committee of the Cabinet (ACC) on Tuesday approved the appointment of Rajiv Ranjan Jha as Director (Projects) of PFC Limited....

PFC becomes India’s 11th Maharatna PSU; RK Singh says status reflects govt’s confidence

PFC has become the 11th Maharatna central public sector enterprise (CPSE) of India as the Centre conferred the prestigious status to the PSU....

RK Singh urges REC, PFC to find cheap funds, increase funding to RE sector

RK Singh urged REC Limited and PFC Limited to increase funding to the renewable energy sector and explore options for cheaper funds....

PFC celebrates ‘Azadi Ka Amrit Mahotsav’ in Meghalaya

Power Finance Corporation Limited (PFC) celebrated ‘Azadi Ka Amrit Mahotsav’ marking 75 years of India’s independence, by conducting energy efficiency drives in Meghalaya....

PFC issues India’s first-ever ‘Euro Green Bonds’

In what is a milestone issuance for Power Finance Corporation Ltd (PFC), the govt owned power financer has successfully issued its maiden Euro 300 million 7 year Euro Green Bond issuance....

PFC wins 'Rajbhasha Kirti' Puruskar for best performance in official language

Power Finance Corporation Limited (PFC) country’s leading NBFC in the power sector, has won first prize in the prestigious 'Rajbhasha Kirti' for the FY 2019-20 and 2020-21....

Hydro projects: PFC inks MoU with NHPC to lend funds

Power Finance Corporation (PFC) Limited has signed an MoU with NHPC Limited to lend funds for the development of hydro projects by NHPC....

Azadi ka Amrut Mahotsav: Tripura gets 33/11 KV Power sub-stations under the IPDS scheme

33/11 KV Power sub-stations, commissioned under the IPDS scheme of the government were inaugurated at Dharmanagar & Kumarghat districts of North Tripura....

Skill development: PFC trains 500 students at IGIAT, Visakhapatnam

Power Finance Corporation's (PFC) comprehensive training under its 'Skill Development Training Program’ leads to placement of close to 400 students in reputed organisations....

Q1 FY 22: PFC posts healthy 34% rise in net profit, declares interim dividend of Rs 2.25

Power Finance Corporation (PFC) has posted a 34 percent rise in standalone net profit year-on-year at Rs 2,273.59 crore in Q1 of FY 2021-22....

PFC wins Governance Now award for strategic performance

PFC has been conferred with the ‘Governance Now’ Award in the category of ‘Strategic Performance’ during the 8th PSU Awards organised by Governance Now recently....

Azadi ka Amrut Mahotsav: Kashmir's Nowshera gets a new 33/11kV 6.3 MVA power sub-station

A 33/11kV 6.3 MVA Power sub-station, commissioned under the IPDS scheme of the government was inaugurated in Nonial, Nowshera as part of ‘Azadi ka Amrut Mahotsav’ ....

52nd Foundation Day: REC gets a new corporate office inaugurated by RK Singh

Union Minister RK Singh inaugurated REC's new corporate office in Gurugram on its 52nd foundation day, also released a report on Key Regulatory Parameters of Power Utilities....

Liquidity scheme: PFC, REC have disbursed Rs 79,678 crore to discoms so far

PFC and REC Ltd have sanctioned loans of Rs 1,35,537 crore and disbursed Rs 79,678 crore to discoms under the liquidity infusion scheme, RK Singh has said....

DISCOM losses down from Rs 61,360 cr in FY19 to Rs 38,000 cr in FY20: RK Singh

Power Minister RK Singh said that the losses of power distribution companies (DISCOMs) have dropped sharply by around 38 percent between FY19 and FY20....

Here is why RK Singh has been elevated to Cabinet Minister rank

RK Singh has been rewarded with cabinet rank for being at the helm of managing affairs at Power Grid and bringing reforms in the distribution sector which has been debt-laden for years ....

Rajiv Ranjan Jha selected for PFC’s Director (Projects) post

Rajiv Ranjan Jha, who is currently serving Executive Director of PFC Limited, has been recommended for the post of Director (Projects) of the company by PESB ....

50 kWp solar rooftop project inaugurated in Solan, Himachal Pradesh, under IPDS scheme

As part of the ‘Azadi ka Amrit Mahotsav,’ a 50 kWp solar rooftop project has been inaugurated in Solan, Himachal Pradesh, under the Integrated Power Development Scheme (IPDS) of the Ministry of Power ....

PFC Consulting incorporates Mohanlalganj Transmission as wholly owned subsidiary

PFC Limited on Friday said that its subsidiary company, PFC Consulting Ltd (PFCCL) has incorporated Mohanlalganj Transmission Ltd as its wholly-owned subsidiary ....

Massive: PFC posts highest ever net profit of Rs 8,444 crore for FY'21

Power Finance Corporation (PFC) has recorded the highest ever net profit (PAT) of Rs 8,444 crore for FY 2020-21, that is 49 percent higher on year on year (Y-o-Y) basis ....

PFC organises COVID-19 vaccination camp, 556 people vaccinated

Power Finance Corporation (PFC) organised the COVID-19 vaccination camps for employees and dependent family members where 556 people got first dose of the vaccine ....

COVID: In India, PSUs are leading the charge against #OxygenShortage from the front

As India faces an acute shortage of oxygen in fighting the 2nd wave of COVID-19 infections, PSUs are leading the charge from the front to address the crisis ....

Azadi ka Amrit Mahotsav: Another 2x10 MVA GIS Substation inaugurated in Bihar under IPDS scheme

Another 2x10 MVA GIS Substation under the IPDS scheme of the government was inaugurated in Bhagalpur, Bihar, as part of ‘Azadi ka Amrit Mahotsav’ ....

Azadi ka Amrit Mahotsav: 2x10 MVA GIS substation inaugurated in Bihar under IPDS scheme

2x10 MVA GIS Substation under the IPDS scheme of the government was inaugurated in Purnia, Bihar, as part of ‘Azadi ka Amrit Mahotsav’ ....

PFC pays interim dividend of Rs 1,182.63 crore to Govt for FY 2020-21

Power Finance Corporation (PFC) has paid an interim dividend of Rs 1,182.63 crore to the government for the previous financial year (FY 2020-21) ....

PFC and REC reduce lending rates by upto 2%

State-run lenders PFC and REC have decided to reduce lending rates by upto 2 percent from April 1 ....

NHPC acquires Jal Power Corporation & its 120 MW Rangit-IV HEP

NHPC Limited has acquired Jal Power Corporation Ltd and its 120 MW Rangit-IV HEP, bringing the insolvency procedure for the company to a resolution ....

PSU Dividends: Indian Oil, GAIL and PFC declare second interim dividend for FY21

Indian Oil, GAIL and PFC has declared the second interim dividend of Rs 3 per share, Rs 2.5 per share and Rs 8 per share respectively for the Financial Year 2020-21 ....

REC, PFC to finance 600 MW Hydro Electric Project in Bhutan

REC, along with PFC, has signed an MoU with Kholongchhu Hydro Energy Ltd (KHEL) for financing of 600 MW Hydro Electric Project at Trashi Yangtse, Bhutan ....

PFC organises 23rd 'Inter CPSU Table Tennis Tournament'

Power Finance Corporation (PFC) in collaboration with Power Sports Control Board (PSCB) organised 23rd 'Inter CPSU Table Tennis Tournament' ....

PFC celebrates International Women’s Day 2021

Power Finance Corporation Limited (PFC) celebrated 'International Women’s Day' with full enthusiasm and pledged to create a supportive work environment for women ....

CSR Watch: PFC extends financial support of Rs 3 crore to Dr KB Hegdewar School in Goa

PFC Ltd. has extended its financial support for the construction of stilt plus two-storied School Building at Dr KB Hegdewar School premises, in Bambolim, Goa as part of its CSR activities ....

PFC board approves borrowing of Rs 1 lakh cr in next financial year

India's largest non-banking financial corporation (NBFC) in the power sector PFC's board has approved a plan to borrow a sum of Rs 1 lakh crore under different debt segments in FY22 ....

Power Cup 2021: Power Secretary inaugurates T-20 cricket tournament

Ministry of Power has won the first match of the ‘Power Cup 2021 T-20,’ which was played between the NHPC and Power Ministry on Saturday ....

Q3 FY21: PFC standalone net profit spurts 39% year-on-year to settle at Rs 2,333 cr

PFC has recorded a 39 percent jump in standalone Profit after Tax (PAT) year-on-year as the figure settled at Rs 2,333 crore for Q3 of FY21 ....

PFC invites job applications for Director (Commercial); apply before April 16

Power Finance Corporation (PFC) Limited has posted a job vacancy for the engagement of Director (Commercial). Eligible candidates can apply for the job before April 16 ....

PFC gets SKOCH gold award for ‘Best Performing PSU for Covid Activities’

Power Finance Corporation (PFC) has been awarded with the SKOCH Gold Award in ‘Best Performing PSU for COVID-19 Activities’ category ....

PFC raises USD 500 million through issuance of USD denominated bonds

PFC has successfully raised USD 500 million on February 29, through issuance of USD denominated bonds under Reg S route with a fixed maturity of May 16, 2031 ....

PFC and Department of Official Language organise workshop on Kanthasth & Hindi e-tools

In order to promote day-to-day usage of the Hindi language, Power Finance Corporation (PFC) in association with the Department of Official Language organised a technical workshop on Kanthasth & Hindi e-tools ....

CSR Watch: PFC wins accolades for 'Best CSR practices & COVID-19 relief work'

Power Finance Corporation (PFC) has been given a certificate of appreciation by the government of Haryana for its CSR and relief work undertaken during the Covid-19 pandemic ....

PFC’s Rs 5,000-cr bond issue opens Jan 15; CMD says it’s a better bet than FD

Power Finance Corporation (PFC) is looking to raise Rs 10,000 crore via public issue of bonds in two tranches ....

These PSUs made it to Fortune 500 list 2020 of Indian companies

Indian Oil has been ranked no 2 in the Fortune 500 list 2020 of Indian companies followed by Oil & Natural Gas Corporation (ONGC), State Bank of India (SBI), and BPCL (Bharat Petroleum) in the top ten list ....

MNRE issues guidelines for feeder-level solarisation under PM-KUSUM scheme

MNRE has decided to include solarisation of agriculture feeders under Component-C of PM-KUSUM scheme and has issued guidelines in this regard ....

PFC wins gold award for 'Best Performing PSU for Covid Activities'

This award is testimony to the dedication of its workforce who ensured that the business remained as usual even during the testing times  ....

SJVN signs MoU with PFC & REC for term loan of Rs 8,520 crore

SJVN Limited has achieved financial closure for the 1,320 MW Buxar Thermal Power project on Thursday and signed an MoU with PFC & REC for a term loan of Rs 8,520.46 crore ....

PFC, REC have disbursed Rs 31,000 cr, sanctioned Rs 1.18 lakh cr to discoms so far

PFC and REC Limited have so far disbursed around Rs 31,000 crore and sanctioned Rs 1.18 lakh crore to discoms so far under the Rs 1.2 lakh crore liquidity scheme ....

Q2 Results: PFC net profit rises 80% to Rs 2,085 crore in second quarter

During the second quarter (Q2) of the current financial year (FY21), Power Finance Corporation (PFC) has registered 80 percent growth in the net profit ....

Tanmay Kumar (IAS) appointed as Govt Nominee Director of PFC

Ministry of Power's Joint Secretary Tanmay Kumar (IAS) has been appointed as Government Nominee Director of PFC Limited on Wednesday ....

PFC observes Vigilance Awareness Week 2020

PFC’s vigilance unit is organising various events and workshops and competitions on the theme - ‘Satark Bharat, Samriddh Bharat’ to raise awareness levels amongst its employees ....

PFC sanctions Rs 2,790 Cr to JKPCL to clear outstanding dues

Power Finance Corporation (PFC) has sanctioned Rs 2,790 crore to Jammu Kashmir Power Corporation ltd (JKPCL) for clearing its outstanding dues ....

Govt sets revenue target of Rs 36,000 cr for FY 2020-21 for PFC Limited

The government has set an ambitious revenue target of Rs 36,000 crores along with various performance-related parameters in the performance-based MoU signed between Ministry of Power and PFC Limited for the FY'2020-21 ....

RK Singh dedicates 74 PFC projects to the people of Bihar

In addition to these 74 PFC projects, PFC has also contributed Rs 12 lakh for procurement and distribution of health masks, sanitisation material & PPEs, medical facilities and equipment as part of PSU's CSR drive in Arrah, Bihar ....

Power Minister dedicates various projects of NHPC & PFC under CSR activities

Union Minister of State for Power RK Singh inaugurated various projects implemented under the CSR activities of NHPC and PFC in Shahpur and Bihiyan block of Bhojpur district on Wednesday through video conferencing ....

PFC dedicates a solar roof top system to ASHA School at Delhi Cantt

Under its CSR initiative, PFC is providing 5kWp standalone solar rooftop systems with battery back in 37 Asha schools across the country ....

LoUs from IREDA, PFC, REC for RE developers will be at par with bank guarantees: RK Singh

The renewable power generators can seek Letters of Undertaking (LoUs) by offering due security to the three non-banking financial institutions, IREDA, PFC and REC ....

PNGRB is looking for Member (Legal); apply before Sep 20

Petroleum and Natural Gas Regulatory Board (PNGRB) has invited job applications for the selection of Member (Legal). Eligible candidates can apply for the job before September 20 ....

Govt asks gencos, transcos to charge late fee less than 12% per annum from discoms

The Centre has asked all power generating companies and transmission companies to charge Late Payment Surcharge at a rate not exceeding 12 percent per annum from discoms ....

Rs 90K crore package: Cabinet eases working capital limit for discoms to get loan

The CCEA has approved a proposal on Wednesday to relax working capital norms for discoms seeking loans under the Rs 90,000-crore package ....

PFC Q1 Consolidated PAT up 23 percent at Rs 3,557 Crore

India's largest NBFC in power sector state-run Power Finance Corporation has posted a robust 23 percent rise in profit after tax in Q1FY'21 ....

Rs 90,000 cr package: PFC, REC sanction loans to discoms worth Rs 68,000 cr in 1st tranche

PFC, REC have so far sanctioned loans worth Rs 68,000 crore to discoms under the Rs 90,000-crore package announced by the Centre in May, a source said ....

PFC to construct Modular Operation Theatres at Siddharthnagar District Hospital in UP

PFC has signed an agreement with the District Administration of Siddharthnagar for constructing Modular Operation Theatres at the District Hospital of Siddharthnagar in Uttar Pradesh ....

PFC's Director (Commercial) awarded at

PFC's Director (Commercial) PK Singh has been felicitated with the “Change Maestro and Institution Builder of the Year” award in corporate category, for his outstanding contribution ....

PFC gets Rajbasha Kirti Puraskar for 6th year in a row

CMD PFC Rajeev Sharma received the Rajbhasha Kirti Puraskar form Union Home Minister Amit Shah for implementation of the government's official language policy ....

PFC receives 'Swacch Bharat Award 2019'

The Swacch Bharat award was presented by Union Minister Gajendra Singh Shekhawat to PFC Director (Commercial) PK Singh in New Delhi recently ....

Govt’s new divestment target: Raise Rs 13,000 crores by selling the stake in PFC to REC

The government is looking to sell its stake in Power Finance Corp (PFC) to Rural Electrification Corp Ltd (REC) ....