ALSO READBoard of Power Finance Corporation to consider interim dividend for FY 2017 Power Finance Corporation provides update on subsidiary- PFC Consulting EESL FY16 net profit at Rs 35.59 crore Power Finance Corporation announces change in directorate Power Finance Corporation provides update on subsidiary
State-run Power Finance Corporation (PFC) today said it has signed a loan agreement with Maharashtra State Electricity Distribution Co (MSEDCL) for financial assistance of Rs 3,000 crore. This assistance will help MSEDCL meet its operational requirements within the working capital eligibility allowed under the UDAY scheme.
The loan will help MSEDCL clear its outstanding power purchase liabilities also, PFC said in a statement. The loan document was signed by S L Pimpalkhute, Director (finance), MSEDCL, in the presence of Rajeev Sharma, CMD, PFC.