PFC sanctions over Rs 1 lakh cr loans for power projects in FY20
New Delhi: State-owned Power Finance CorporationNSE -0.72 % (PFC) on Thursday said it sanctioned loans over Rs 1 lakh crore for power projects during the 2019-20 financial year. Out of the Rs 1 lakh crore, it successfully disbursed Rs 68,000 crore loans during the last financial year, PFC said in a statement.
PFC, under the administrative control of the Ministry of Power, is the largest non-banking financial corporation (NBFC) in power sector in India.
“PFC ended FY 2019-20 on a strong note despite numerous challenges, including outbreak of COVID-19 virus. The institution delivered a sound financial performance with loan sanctions of more than Rs 1 lakh crore along with loan disbursements of about Rs 68,000 crore in the last financial year,” it said.
