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Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of PFC and REC to help achieve scale and improve efficiency in the public sector NBFC space The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of Power Finance Corporation ...Read More >
Mumbai: Shares of Power Finance Corporation (PFC) and REC Limited saw strong movement in the market. Around 2 PM, PFC stock was up nearly 1 percent at about Rs 410, while REC shares also gained around 1 percent to trade near Rs 330. The rise came after reports of a possible merger between the two companies. Government's New Strategy According to sources from the Finance Ministry, the government is exploring a new approach for the merger. If PFC and REC combine, the government may not need to h ...Read More >
New Delhi: The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had, in the FY27 Budget, announced the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to help achieve scale and improve efficiency in the public sector NBFC space. "The government would ...Read More >
New Delhi: Power Finance Corporation (PFC), the state-owned Maharatna power sector lender, announced a significant change to its Board of Directors following the resignation of Shri Bhaskar Bhattacharya from his position as an Independent Director. In a regulatory filing submitted to the BSE and NSE on April 2, 2026, the company revealed that Bhattacharya tendered his resignation via email on April 1, 2026. The move comes as a strategic step for the director, who is transitioning from corporate ...Read More >
Mumbai: A troubling financial pattern is emerging in Maharashtra, where off-budget borrowings -- intended to fund infrastructure and development -- are increasingly being used to repay previous loans and clear arrears. This cycle of debt to service debt, bypassing legislative scrutiny, poses long-term fiscal risks, according to recent disclosures in the state legislature. About The Documents Tabled During the just-concluded Monsoon session, two crucial documents were tabled: the Comptroller an ...Read More >
New Delhi, July 8 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025. A dividend cheque of Rs 2,335 crore for FY 2024-25 was presented to the Finance Minister, in her North Block office, by Punjab National Bank MD and CEO Ashok Chandra, while Bank of India MD & CEO Rajneesh Karnatak presented a cheque of Rs 1,353 crore. Th ...Read More >
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