PFC may exceed loan disbursement target of Rs 19,300 cr

State-run Power Finance Corporation (PFC) which is planning to disburse loans over Rs 19,300 crore in the current financial year, would also raise an additional Rs 4,000 crore in the same period.

"We were targeting disbursements over Rs 19,300 crore.... we might exceed this target. We would raise Rs 4,000 crore more this fiscal," PFC Chairman and Managing Director Satnam Singh told reporters on the sidelines of India Energy Forum.

PFC has already raised Rs 16,000 crore from the market during 2008-09, including Rs 7,000 crore by issuing bonds.

The company is looking at loan disbursements of around Rs 24,000 crore by the end of this fiscal. It has already given loans of around Rs 12,000 crore till November this year, registering a growth rate of over 50 per cent.

During the last financial year, PFC had registered a growth of 15 per cent by disbursing Rs 16,000 crore.

PFC is not looking at reducing interest rates for the time being, "We are borrowing from the domestic markets only because ECB norms are very tight. Banks have so far not cut the interest rates for us as expected. Therefore slashing interest rate for the borrowers by us is out of question," Singh said.

The current lending rate of the company is 13.25 per cent to 14.75 per cent depending upon different category of borrowers.