 "DHFL")
Averting a major showdown with the Uttar Pradesh power employees on the illegal investment of their provident fund (PF) in Dewan Housing Finance Corporation Limited (DHFL), the Yogi Adityanath government has announced to underwrite the outstanding corpus.
Besides, the state has also started the process of disinvesting the PF corpus in two other non-banking finance companies as well — LIC Housing Finance and PNB Housing Finance, which would be invested in other public sector financial institutions as per norms.
While Rs 4,122 crore was invested in DHFL alone by the two trusts managing the PF of the power employees between March 2017
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