 "PFC, REC score over listed PSBs; report faster growth in advances")
Term lenders Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) have shown better profitability and reported faster growth in advances than listed public sector banks (PSBs) such as State Bank of India, Bank of Baroda, and Punjab National Bank.
PFC and REC have come into focus as Union Finance Minister Nirmala Sitharaman in her Budget announced plans to set up a development finance institution or term lender to finance infrastructure projects.
The combined advances of PSBs were down 2.4 per cent in FY20 when adjusted for their mergers and they reported losses.
PFC’s advances were up
PFC and REC have come into focus as Union Finance Minister Nirmala Sitharaman in her Budget announced plans to set up a development finance institution or term lender to finance infrastructure projects.
The combined advances of PSBs were down 2.4 per cent in FY20 when adjusted for their mergers and they reported losses.
PFC’s advances were up
