iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

PFC Heads to Global Stage with New GIFT City Hub

10 Jan 2024 , 12:34 PM

According to a corporate exchange filing, Power Finance corporate received a letter of no objection from the Reserve Bank of India (RBI) on January 9 for the establishment of a finance company at the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.

According to the exchange filing, 'PFC's entry into the IFSC is expected to open up new business opportunities and establish PFC's global presence.'

The business had asked the authorities for permission last year.

The corporation increased its market borrowing to Rs 1.05 lakh crore earlier this month.

For the current fiscal year, a borrowing scheme totaling Rs 80,000 crore was in place. The borrowing falls under a number of debt categories, including public and private placement bonds, debentures, term loans, external commercial borrowings, and more.

The business stated in a filing with the bourses that 'the funds under the said revised market borrowing program will be raised, from time to time, during the financial year 2023–24, with the approval of the competent authority as per powers delegated in this regard by the Board of Directors.'

Previous to this, the Gujarat government signed an initial agreement with Power Finance Corporation to supply complete financial support for the state's generation, transmission, and distribution projects.

In the presence of Gujarat Chief Minister Bhupendra Patel, Parminder Chopra, CMD PFC, and Jai Prakash Shivhare, MD (GUVNL), signed the Memorandum of Understanding.

For feedback and suggestions, write to us at editorial@iifl.com

PFC inks MoU worth ₹2.37-lakh crore with 20 firms - The Hindu BusinessLine

Related Tags

  • gift city
  • PFC
  • RBI
sidebar mobile


Read More

Most Read News

Awfis IPO oversubscribed 4.19x on day two
23 May 2024|09:51 PM
Indian markets end the day on high
23 May 2024|03:59 PM
Markets surge

Markets surge

23 May 2024|03:45 PM
MG Motor India to supply 3000 EVs to Vertelo
23 May 2024|03:46 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.