RBI panel suggestions to help boost NBFCs: PFS

Last Updated: Friday, September 2, 2011 - 18:40

New Delhi: An RBI panel's recommendations on NBFCs, if implemented, would help in boosting the base of infrastructure finance companies and increasing their scale of operations, PTC India Financial Services (PFS) said on Friday.
PFS, a  non-banking finance company, is part of leading power trading solutions provider PTC India.
"PFS believes that the recommendations, if implemented, would strengthen the base of IFCs (Infrastructure Finance Companies) enabling them to increase the scale of operations commensurate with huge requirement of infrastructure financing in India in the long run," PFS said in a statement.
According to the company, tighter provisioning norms might not have a significant impact as feared.
Earlier this week, a RBI panel called for tough new norms for non-banking financial companies (NBFCs).
Among others, the working group suggested that such entities should be subjected to same regulations as that of banks, when it comes to provisioning norms and lending to stock brokers and merchant bankers.
The effective debt sanctioned by PFS to power projects stood at more than Rs 4,545.7 crore as on August 12. PFS reported a profit after tax of Rs 10.24 crore for the three months ended June.


First Published: Friday, September 2, 2011 - 18:40

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