Power Finance Corporation Limited

New Delhi, India

Power Finance Corporation Limited (PFC) is an Indian public sector financial company that specializes in financing power projects, including generation, transmission, and distribution. The company plays a critical role in facilitating investments and providing financial support to the power sector.

CCI Score

-30.57

0.02% April 18

Latest Event

RBI Fines Power Finance Corporation for Breach of Norms

The Reserve Bank of India imposed a penalty of Rs 8.80 lakh on Power Finance Corporation for failing to maintain the required liquidity coverage ratio. This incident raises concerns over PFC's adherence to ethical business practices and hints at potential regulatory capture that undermines proper corporate governance.

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TOADIE

Power Finance Corporation Limited is currently rated as a Toadie.

-30 to -44 CCI Score

Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

FEB

07

2024

RBI Fines Power Finance Corporation for Breach of Norms
-45.35

The Reserve Bank of India imposed a penalty of Rs 8.80 lakh on Power Finance Corporation for failing to maintain the required liquidity coverage ratio. This incident raises concerns over PFC's adherence to ethical business practices and hints at potential regulatory capture that undermines proper corporate governance.
-60

Business Practices and Ethical Responsibility

March 23

PFC's failure to uphold the mandated liquidity ratios, resulting in a significant penalty from the RBI, reflects serious lapses in business practices and ethical responsibility. This breach indicates a disregard for regulatory compliance and exposes vulnerabilities in its financial management.

RBI Fines Power Finance Corporation for Breach of Norms
-40

Economic and Structural Influence

March 23

The incident not only highlights a breach of financial norms but also raises broader concerns regarding regulatory capture. The failure in compliance suggests that PFC’s operational practices may contribute to an environment where corporate interests can unduly influence or bypass regulatory oversight.

RBI Fines Power Finance Corporation for Breach of Norms
JAN

01

2016

BankTrack Evaluation of PFC's Human Rights Responses
-15.78

An evaluation by BankTrack raises concerns regarding Power Finance Corporation Limited's responses to alleged human rights violations tied to its financing of power projects. Civil society organizations have highlighted that PFC's measures appear insufficient, potentially enabling repressive practices and undermining labor and community rights.
-40

Labor Relations and Human Rights Practices

January 1

The evaluation points to significant shortcomings in PFC's approach to handling allegations of human rights violations related to its financing activities. The inadequate response to civil society concerns suggests a broader neglect of labor rights and human rights standards. This failure contributes indirectly to an environment where repressive practices are not adequately challenged, echoing dynamics that support authoritarian tendencies.

Power Finance Corporation (PFC) - Banktrack