PFC accorded Maharatna status

TheGovernment of India has accorded the Maharatna status to Power Finance Corporation Limited (PFC).

The Maharatna status will enable PFC to offer competitive financing for the power sector. It will also help PFC in pushing the government’s agenda of funding under the National Infrastructure Pipeline, national commitment of 40 per cent green energy by 2032 and effective monitoring and implementation of the Revamped Distribution Sector Scheme with an outlay of over Rs 3 trillion. The board of the company can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad, subject to a ceiling of 15 per cent net-worth of the company, limited to Rs 50 billion in one project. They can also enter into technology joint ventures or other strategic alliances among others.

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