Reports indicate that the Finance Ministry allowed sovereign wealth funds to invest in debt instruments floated by state-run companies. It may be noted that the government allowed 13 state-run firms to raise around Rs 48,000 crore by selling tax-free bonds in 2013-14
Tag: Power Finance Corp
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PFC to acquire stake in state-run bank
Satnam Singh, Managing Director of Power Finance Corp (PFC) plans to buy a substantial stake in a public sector unit (PSU) bank that would allow it to have a representation at the board level. A month ago, PFC informed its intention to acquire stake in state-run bank to the power and the finance ministries
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Power Finance Corp to issue Rs 1.5 bn worth bonds
Power Finance Corp (PFC) considers to issue unsecured bonds worth Rs 1.5 billion, for which it received "AAA" rating by Crisil ICRA and CARE. The term of these bonds is six years and the corporation would pay 8.72 percent interest on the bonds. The structure of the bonds is such that they are redeemable in three equal installments. Each bond will offer
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Tax-free bonds of 4 firms
Government has allowed four firms to raise Rs 300 billion via tax-free bonds in the current financial year.