Power Finance Corporation (PFC) on Friday said its board of directors will meet on March 27 to consider a proposal for market borrowing for FY20 through bonds, term-loans from banks and commercial papers from domestic and international markets. The funds will be raised from time to time during the fiscal, the company said in a regulatory filing.
Earlier this week, PFC said it will acquire entire 52.63% stake of the government in Rural Electrification Corporation (REC) for Rs 14,500 crore by the end of March. In December 2018, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for acquisition of REC by PFC.
