PFC.NSE

Power Finance Corporation Ltd.

Bhaskar Bhattacharya, an independent director at Power Finance Corporation, has resigned. He plans to contest the upcoming assembly elections in West Bengal. Bhattacharya stated his decision was to avoid any potential conflict of interest. He was appointed to the PFC board in May 2025. His resignation was effective April 1, 2026. He will be a candidate from the Serampore constituency.

Power Finance Corporation Limited has informed that Independent Director Bhaskar Bhattacharya has resigned from its board. The resignation is linked to his proposed candidature in the West Bengal Assembly elections. The company confirmed there are no additional reasons for his exit. Bhattacharya had earlier been appointed as a part-time non-official director for a one-year term.

State-owned lender to the energy sector, Power Finance Corporation’s (PFC) board has approved a plan to borrow up to ₹1.6 trillion (~$17.16 billion) from domestic and international markets through a wide range of instruments for the financial year (FY) 2026-27. As per the plan, the company can raise up to ₹1.1 trillion (~$11.81 billion) through domestic long- and medium-term borrowings, including capital gain bonds, public issues or private placements of taxable or tax-free bonds, debentures and debt securities, fixed or floating rate, non-convertible, infrastructure, inflation-indexed, structured, market-linked, green, social, and ESG bonds.

To streamline the merger of Power Finance Corp and REC Ltd, the Indian power ministry has created two panels. One group will handle integration details, while another will oversee the merger's progress, emphasizing the importance of these firms in India's energy transition efforts.