PFS raises Rs 500 cr from Bank of India
New Delhi: PTC IndiaNSE 0.27 % Financial services (PFSNSE 1.92 %) has received sanction of fresh long term loan of Rs 500 Crore for a period of ten years at an interest rate of 8.50% per annum for onward lending to infrastructure projects and other operational requirements.
“We are delighted to get sanction of long term loan from the Bank of India. We will use this loan to further expand our lending portfolio in Infrastrture projects and other operational requirements,” company Managing Director and CEO Pawan Singh said.
“Our portfolio quality has been improving with the passage of each quarter and in the last one year period we have resolved stressed assets considerably. We will continue to focus on quality assets and put our efforts to become a sustainable financing company”, he added.
