PFC plans to resolve 20-30 per cent NPAs worth Rs 28,000 cr in 4 months
Power Finance Corporation plans to resolve 20-30% of its stressed assets worth Rs 28,000 crore over the next four months, chairman Rajeev Sharma told ET.The state-run lender to power projects expects the upcoming acquisition of Rural Electrification Corporation (REC) to help in and expedite resolution of some stressed assets.“In the next three to four months, I expect at least 20-30% of my stressed assets will be resolved. There will be a unique solution for each project. We have already made 52% provisioning and we expect that in some cases, there will be reversal of provisioning. Our bad days are over. Now, profits will increase,” Sharma told ET ahead of a press and analyst meet.PFC said resolution of the first of its stressed assets — re.....