Power Finance Corporation Current Affairs - 2020

India plans to boost clean energy sector

The Government of India is planning to integrate largest lenders to the power sector in order to help clean energy firms clear their dues. It includes Rural Electrification Corporation (REC), Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (IREDA). The integration will help resolve growing crisis in the clean energy sector and also Read More…

PFC becomes India’s second largest state-owned Financial Firm

State-owned Power Finance Corporation (PFC) has completed the acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government. The merger of both the entities is expected to be completed in the next fiscal year in consultation with the government. This acquisition and merger will make PFC second-largest government-owned financial player Read More…

Public Enterprises Survey 2017-18

The Public Enterprises Survey 2017-18 was tabled in the Parliament. The Survey mapped the performance of the various central public sector units. The survey was undertaken by the Department of Public Enterprises, Ministry of Heavy Industries & Public Enterprises. Findings of the Survey The major highlights of the performance of CPSEs are: Indian Oil Corporation, Read More…

CCEA approves strategic sale of Rural Electrification Corporation

Cabinet Committee on Economic Affairs (CCEA) has given its in principle approval for strategic sale of Central Government’s existing 52.63% of total paid up equity shareholding in Rural Electrification Corporation (REC) to Power Finance Corporation (PFC) along with transfer of management control. Both REC and PFC are Central Public Sector Enterprises under the Ministry of Read More…

Government launches Pilot scheme Procurement of Aggregate Power of 2500 MW for 3 years

Ministry of Power has launched Pilot Scheme for Procurement of Aggregate Power of 2500 MW on competitive basis for 3 years. The main purpose of scheme is to revive commissioned power plants which are unable to sell electricity in absence of valid power purchase agreements (PPAs). Key Facts Under this scheme, these plants will be Read More…