1st to 10th January 2024 - PFC (Power Finance Corporation) SIGNS MOU WITH GOVERNMENT OF GUJARAT

Question 1

What is the acronym PFC?

Answer 1

Power Finance Corporation

Question 2

What type of company is the Power Finance Corporation?

Answer 2

A Maharatna CPSE and a leading NBFC in the power sector (Maharatna Central Public Sector Enterprise, Non-Banking Financial Company)

Question 3

What is the main purpose of the MoU signed by PFC?

Answer 3

To provide financial support for Gujarat’s power generation, transmission, and distribution projects.

Question 4

Who are the two parties involved in the MoU?

Answer 4

Power Finance Corporation (PFC) and the Government of Gujarat (GoG)

Question 5

What does the MoU specifically aim to finance?

Answer 5

Projects related to power generation, transmission, and distribution within the state of Gujarat.

Question 6

Besides financial backing, what other potential benefit could this MoU bring to Gujarat?

Answer 6

Possible job creation in the power sector.

Question 7

Why are MoUs like this important for infrastructure development?

Answer 7

They ensure access to necessary funding, promote collaboration between public and private sectors, and can accelerate progress in critical areas like power infrastructure.

Question 8

How could reliable power infrastructure benefit the state of Gujarat?

Answer 8

Promote economic growth, attract investment, improve quality of life, and support industrial development.

Question 9

Could similar MoUs be beneficial in other states of India? Why or why not?

Answer 9

Yes, as India has ongoing power infrastructure needs. MoUs can help states secure funding and expertise to improve their power sectors.