Money & Banking

PFS raises ₹500 crore from Bank of India

Our Bureau New Delhi | Updated on December 30, 2019 Published on December 30, 2019

PTC India Financial services (PFS) has received sanction of fresh long-term loan of ₹500 crore from Bank of India.

“The amount will be repaid over 10 years at an interest rate of 8.50 per cent per annum and will be utilised for onward lending to infrastructure projects and other operational requirements,” a PFS statement said. Pawan SIngh, Managing Director and CEO of PFS, said,

“We will use this loan to further expand our lending portfolio in infrastructure projects and other operational requirements... in the last one year period we have resolved stressed assets considerably. We will continue to focus on quality assets and put our efforts to become a sustainable financing company.”

Published on December 30, 2019
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