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    Liquidity package under Aatmanirbhar scheme getting paid, says PFC

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    Liquidity package under Aatmanirbhar scheme getting paid, says PFC

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    Power Finance Corporation posted Q2 earnings. Disbursals, assets under management (AUM) growth and spreads have all come in at record highs. Ravinder Singh Dhillon, CMD at Power Finance Company, discussed the numbers in detail.

    Power Finance Corporation posted Q2 earnings. Disbursals, assets under management (AUM) growth and spreads have all come in at record highs. Ravinder Singh Dhillon, CMD at Power Finance Company, discussed the numbers in detail.
    “Some of the companies have asked for moratorium and we have given them Rs 20,000 crore moratorium and going forward with this liquidity package the generators are getting paid. So the stress in this segment is lower as they are getting that money under Atmanirbhar programme. We are making direct payment to GENCOs who are having overdues with the distribution companies (DISCOMs),” he said.
    The accounts have remained satisfactory even after the moratorium period. 84 percent of the company’s book is for government sector and the repayments in those accounts take time but it doesn’t have any non-performing assets (NPAs), he added.
    For the balanced portfolio in the private sector, sufficient provisions have been made for NPA projects. “We think that the NPAs would not have increased even if the SC dispensation had not come,” he said.
    “Our NPAs are at a four-year low and last year we were able to resolve two projects with an exposure of Rs 2,850 and this year we were able to resolve two more projects for Rs 1,350 and we are in the process of resolving two more state projects with the amount of Rs 5,300.”
    “So the impact on the book for different projects is of different kind,” he added.
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