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Business Briefs

PFC profit

New Delhi, May 22: Power Finance Corporation’s (PFC) profit after tax rose 16 per cent to Rs 3,032 crore in 2011-12 against Rs 2,620 crore last year. Higher loan disbursements and an overall improvement in business helped the company’s results. “Better performance was mainly because of good growth in business,” PFC chairman Satnam Singh said.

Fuel pact

New Delhi, May 22: With NTPC refusing to sign fuel supply pacts with CIL because of its objections on certain clauses of the model fuel supply agreement, the government today said it was trying to address the concerns of the power PSU and if required may tweak the penalty clause.

RBI move

Mumbai, May 22: The RBI will pump in Rs 12,000 crore in the market on May 25, 2012 by buying government securities. The RBI will purchase government securities maturing in 2020 (bearing interest rate of 8.19 per cent), 2024 (9.15 per cent), 2027 (8.26 per cent) and 2030 (8.97 per cent).

Sidbi loans

New Delhi, May 22: The government today introduced a bill to allow film makers and those running amusement parks, restaurants and travel agencies to access loans from Sidbi.


 
 
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