PFC eyes insurance, merchant banking

State-owned Power Finance Corp. Ltd. is considering a foray into the insurance and merchant banking sectors as part of its diversification strategy, a senior company official said Monday.

"We are currently working out a roadmap for PFC's future. The various options being considered include a foray into the booming insurance business as well as merchant banking," the official said.

The corxporation is open to offering different insurance instruments including life insurance, he said. "All options are open for consideration at this juncture," he said.

Besides gaining access to long-term capital, entry into insurance would also give PFC recourse to cheaper source of funds.