The International Financial Services Centres Authority (IFSCA) has granted approval for PFC Infra Finance IFSC Limited (PIFIL), the IFSC’s first power and infrastructure lender in Gujarat, to in GIFT City.
The PIFIL is a wholly owned subsidiary of Power Finance Corporation (PFC), and Parminder Chopra is the chair of both the PFC and PIFIL.
The PFC is the first government non-banking financial company to receive a registration certificate from the IFSC as a finance company for PIFIL. PIFIL is the first IFSC lending company specifically targeted to the power and infrastructure sector. It will provide lending services not only in India, but in other countries, including in foreign currencies, which means the new company will cater to both government and private entities in the industry.
With PIFIL, the PFC aims to become a global brand and strengthen India as a global financial hub, with a focus on clean energy.
