Power Finance Corporation raises FY21 borrowing limit by 31% to Rs 1.18 lakh crore
State-owned Power Finance Corporation (PFC) will raise 31% more funds in FY21 than its initial plan “to accommodate the moratorium granted to borrowers as per RBI guidelines”, a senior company official said. The company’s board, on Wednesday evening, approved to raise its FY21 market borrowing limit to Rs 1.18 lakh crore from the earlier limit of Rs 90,000 crore.
The limit has been raised as the power sector lender prepares itself to disburse more than Rs 60,000 crore to state-run power distribution companies to help them clear the dues of power generators under the Rs 1.2-lakh-crore liquidity infusion scheme. The rest of the loan under the scheme will be given by PFC’s subsidiary Rural Electrification Corporation.
