PFC examining RBI's draft norms on project financing, sees no impact on profitability
State-run Power Finance Corporation (PFC), India's largest power sector lender, stated that the Reserve Bank of India's draft guidelines on infrastructure project financing will not impact its profitability. The company has sufficient capital adequacy to counter the provision if implemented. PFC reported an 18.4% increase in net profit for the March quarter and a 25% increase for the full financial year. The company's balance sheet crossed ₹10 lakh crore in FY24, with improved asset quality and lower NPAs. PFC's executive director Sandeep Kumar has been appointed as the chief financial officer.