 "PFC achieves disbursement targets for 2014-15")
Country's leading lender for the power sector, Power Finance Corporation (PFC) achieved the disbursements targets for the financial year 2014-15.
PFC signed a Memorandum of Understanding (MOU) with the Government of India for each financial year which includes performance targets for parameters such as the amount of sanctions, disbursements and other measures.
PFC signed a Memorandum of Understanding (MOU) with the Government of India for each financial year which includes performance targets for parameters such as the amount of sanctions, disbursements and other measures.
The MoU signed by PFC for the Financial Year ended 31st March, 2015, included a sanction target of Rs 55,000 Crores and a disbursement target of Rs 44,000 Crores in the “Excellent” category. Against these MoU targets in the Excellent category, PFC achieved sanctions of approximately Rs 60,000 Crores and disbursements of approximately Rs 44,300 Crores. The target amounts in the MoU, and the actual amounts achieved by PFC, exclude Sanctions and Disbursements related to the Restructured Accelerated Power Development & Reforms Programme.
PFC’s loan assets as on 31st March 2015 were approximately Rs 2,18,000 Crores, which represented growth of approximately 15% over the previous year. For the year ended 31st March 2015, PFC paid an interim dividend equivalent to 85% on the face value of the equity shares.