New Delhi (NVI): PTC India Financial services (PFS) has received sanction of fresh long term loan of Rs 500 crore for onward lending to infrastructure projects and other operational requirements.
The loan has been sanctioned from Bank of India for a period of ten years at an interest rate of 8.50% per annum.
PTC Financial Services Limited (PFS) is a systemically important non-deposit taking NBFC classified as“Infrastructure Finance Company (IFC)” by RBI.
“We will use this loan to further expand our lending portfolio in Infrastruture projects and other operational requirements,” CEO and Managing Director of PFS Dr Pawan Singh said.
“Our portfolio quality has been improving with the passage of each quarter and in the last one year period we have resolved stressed assets considerably,” he said, adding, “We will continue to focus on quality assets and put our efforts to become a sustainable financing company.”
