Page 2 - Rec Power Finance Corporation

Parminder Chopra takes over as first full-time women PFC Chairman, MD

State-owned Power Finance Corporation (PFC) on Wednesday said Parminder Chopra has taken over as its first full-time women Chairman and Managing Director. "Parminder Chopra has been appointed as Chairman and Managing Director (CMD) of PFC by the Government of India from 14th August 2023. Previously, she was holding the additional charge of Chairman and Managing Director (CMD) from June 1, 2023, and was Director (Finance), PFC, since July 1, 2020," a company statement said. With this, the company said, Chopra becomes the first woman to lead India's largest non-banking finance company PFC. During her term as Director (Finance), she spearheaded the Finance Division, leading to the highest net profit, highest net worth and lowest NPA levels. Such robust financial performance has also facilitated PFC getting the highest status of 'Maharatna'. She also played a key role in the successful implementation of the Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) for the power distribution .

Discoms' dues to gencos down by Rs 24,000 crore on back of loan scheme

But cumulative dues remain at a high of Rs 1.13 trillion

PFC's power drive flickering under record debt burden, govt scheme

The state-run financer for generators and distributors is struggling under a record debt burden even as it is being asked to underwrite the government's latest scheme to rescue inefficient discoms

REC seeks shareholders nod to raise up to Rs 85K cr via bonds, debentures

State-owned REC will seek shareholders' approval to raise up to Rs 85,000 crore through issuance of non-convertible bonds or debentures next month.

Adani Transmission wins Rs 1,300-crore power transmission project in MP

Project involves setting up 16 new sub-stations and strengthening existing power supply network

REC kicks off discom package with Rs 2,500 crore to Maharashtra

REC has sanctioned another Rs 3,300 crore for Andhra Pradesh, Rs 2,000 crore for Punjab and Rs 2,032 crore for Rajasthan.

Fused entity to have enough cash to loan private players: PFC on REC merger

PFC and REC can separately lend up to 25 per cent of their net worth to a single borrower/ project, and lending to a group borrower could be 40 per cent, PFC informed the BSE

Proposed PFC, REC merger hits roadblock over violation of RBI norms

After the merger, the new entity will be required to reduce its exposure in a project to 25 per cent which may not be feasible

PFC lists $750 million bonds at NSE IFSC; increases foreign borrowing

Looking at resolving 4 more stressed power assets this fiscal