Power Finance Corporation Gains RBI Approval for Wholly-Owned IFSC Finance Company

Indian Masterminds Bureau
Published on 10 Jan 2024, 11:35 am IST
1 minute read

Highlights

The company is strategically planning to form a subsidiary within the International Financial Services Centre (IFSC) located in GIFT City, Gujarat

Power Finance Corporation (PFC) on Tuesday secured approval from the Reserve Bank of India (RBI) to establish a wholly-owned finance company. The company is strategically planning to form a subsidiary within the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.

According to the no objection letter issued by the RBI on January 9, 2024, PFC is now officially sanctioned to establish a finance company as a wholly-owned subsidiary within the IFSC in GIFT City, Gujarat. In response to this significant development, PFC conveyed in a filing to the Bombay Stock Exchange (BSE) that its foray into the IFSC is expected to unlock fresh business prospects and strengthen its global presence.

As an infrastructure finance company operating under the Ministry of Power, PFC remains committed to expanding its reach, and this strategic move into the IFSC aligns seamlessly with its broader organizational goals.

IPS Officer Satish Golcha Assumes Interim Role as DG Prisons, Delhi

Indian Masterminds Bureau
Published on 1 May 2024, 5:32 pm IST
2 minutes read

Highlights

An official announcement on Wednesday revealed that Satish Golcha, an IPS officer from the 1992 batch, has assumed interim responsibility as the Director General of Prisons following the retirement of Sanjay Beniwal. According to an order issued by Lieutenant Governor V.K. Saxena, Sanjay Beniwal, an IPS officer from the AGMUT cadre of 1989, held the […]

Dr. Atul Verma Is The New DGP Of Himachal

Indian Masterminds Bureau
Published on 1 May 2024, 5:25 pm IST
1 minute read

Highlights

Dr. Atul Verma, an IPS officer from the 1991 batch, has been appointed as the new Director General of Police (DGP) for Himachal Pradesh. Originally from Jharkhand, Verma previously served as the Director General of the Crime Investigation Department (CID) in the state. Returning from a recent Central deputation, he has assumed responsibility for the […]

IAS Raj Kumar Goyal Gets Addl. Charge of Secy., Department of Law And Justice

Indian Masterminds Bureau
Published on 1 May 2024, 5:23 pm IST
1 minute read

Highlights

He has been given additional charge upon superannuation of 1990 batch IAS officer SKG Rahate of Jharkhand cadre on April 30

Chhattisgarh: CAT Orderes Resolving All Charges Made Against IPS GP Singh

Indian Masterminds Bureau
Published on 1 May 2024, 12:42 pm IST
1 minute read

Highlights

Mr. Gyanendra Pratap Singh, a 1994-batch IPS officer of the Chhattisgarh cadre, was booked with charges of sedition under the Congress government

Ex-IAS Ashok Kundra Donates Rs 2 Crore For Poor Patients To PGI Chandigarh

Indian Masterminds Bureau
Published on 1 May 2024, 12:30 pm IST
1 minute read

Highlights

Ex-IAS Ashok Kundra donated the lumpsum in memory of his deceased father, Late Atma Ram Kundra, to provide help to poor and needy patients needing treatment for non-terminable diseases

IOCL’s Net Profit Have Halved Owing To Pre-Election Fuel Price Cut & Rising Input Costs

Indian Masterminds Bureau
Published on 1 May 2024, 11:56 am IST
1 minute read

Highlights

Losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs added to the predicament

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