PFC unit to lend in India and in other countries in foreign currency
PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has received approval from International Financial Services Centres Authority (IFSCA) to commence business as a Finance Company in IFSC GIFT City Gujarat cii.in .
PIFIL, part of India’s largest non-banking financial company (NBFC) group, will be the first finance company in IFSC dedicated to power and infrastructure lending bseindia .
PIFIL to lend in India and in other countries in foreign currency, catering to both government and private players, PIFIL said on 16 Oct 2024. The establishment of PIFIL will position PFC as a global brand and contribute to strengthening India’s position as a global financial hub nseindia .
K. Rajaraman, Chairperson IFSCA, congratulated PFC for being the first government NBFC for receiving the Certificate of Registration (CoR) as a Finance Company for its IFSC subsidiary – PFC Infra Finance IFSC Ltd, for undertaking lending business sbi.com.in .
Rajaraman emphasised the need for fulfilling the gap for financing renewables towards Net Zero achievement and was positive about the role in which PFC Infra Finance IFSC Limited can contribute to achieving the goal powermin .
Parminder Chopra, Chairperson PFC & PFC Infra Finance IFSC Limited, added, “We are proud to be the first finance company in the IFSC focused on infrastructure including power sector lending pfcindia .
“As we commence operations, funding for energy transition will be a key focus, aligning with India’s strong push towards clean energy sources jpx.co.jp .
“We bring a wealth of experience from our successful track record in India’s power sector and we are confident that our presence will contribute significantly to the growth and success of the IFSC deutsche-boerse .” Fiinews.com
