POWER FINANCE CORPORATION LIMITED

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  • 1. POWER FINANCE CORPORATION LTD. (A Govt. of India Undertaking) Regd. Office:- "Urjanidhi"1, Barakhamba Lane, Connaught Place, New Delhi-110001 Tel No. 23456000 (Fax No. 23412545) Web Site : http://www.pfcindia.com,http://pfc.gov.in CITIZEN’S CHARTER 1.0 CORPORATE MISSION To excel as a pivotal developmental financial institution in the power sector committed to the integrated development of the power and associated sectors by channeling the resources and providing financial, technological and managerial services for ensuring the development of economic, reliable and efficient systems and institutions. 2.0 SERVICES OFFERED BY THE CORPORATION • Financial Services:  Term Loans-It covers financial assistance to power projects including Thermal and Hydro generation projects, survey and investigation of power projects, system improvement and energy conservation schemes, renovation and modernization of power plants etc. The maturity and moratorium of term loans will primarily depend on the type of scheme put up by a utility. The extent of financing ranges from 70% to 100% of project cost to Central/State Sector utilities and 20% to 50% to private sector companies.  Lease Financing-Under schemes for financial leasing of power equipment, any equipment or machinery essential for power projects and associated works is covered. The extent of financing is 100% of the cost of equipment. The period of lease ranges from 3 to 10 years .  Direct Discounting of Bills-The credit is available to all equipment manufacturers to enable them to sell their equipment on deferred payment terms to the purchasers of power sector. Under the scheme, the delivery of equipment or machinery is made by the seller to the purchaser against bills duly accepted/guaranteed by purchaser’s banker. Duly executed bills are discounted by the seller with PFC so that the seller gets immediate payment while the purchaser gets the facility of deferred payment terms. The extent of financing is 100% of the bill submitted.
  • 2.  Guarantee Services- As the fund requirements for the power sector are enormous and many funding agencies insist on guarantee by an Indian Financial Institution (FI), PFC has started providing guarantee services subject to its satisfaction about the borrowers credibility. The extent of financing under this scheme is 15% over and above the sanctioned limit of terms loan.  Loan Syndication- For effective arrangement of funds and appraisal, PFC has started considering loan syndication with other leading Financial Institutions (FIs), like M/s IFCI,ICICI etc. The extent of financing is same as of term loan.  Short Term Loan – PFC opened up a new window for Short Term loan with a view to broad base its loan portfolio for improved client servicing and to assist state utilities who otherwise depended on high cost Short Term Loan from Commercial Banks. At present the extent of financing is up to Rs. 300 crs and the minimum period of short term will be 30 days and maximum period will be 360 days. Procedure for availing the above services- The borrower will submit requests for services in the format prescribed for the purpose by PFC and is available on PFC web site: www.pfcindia.com. However application forms for availing loan facility for short-term loan, direct discounting of bills are available with Financial Product Unit whose address are mentioned in public interface list attached with this charter at annexure `A’. • INSTITUTIONAL DEVELOPMENT SERVICES  Acting as an instrument for ushering in reforms in the state utilities both financial services - PFC has been providing support to help power utilities improves their technical, financial and managerial skills to make this vital sector of economy efficient, self sustaining and to adapt itself to the dynamic changes taking place. This includes support for engagement of consultant etc. to facilitate the process of reforms/restructuring of the utilities, holding workshops on critical issue; to support expeditious implementation of the Private Power Development Initiative of Gol through development of model documents like Power Purchase Agreement (PPAs), Distribution Privatization agreements etc.  Utility Development Plans - In order to ensure that benefits arising from the lending operations endure, PFC has been addressing to the problem of unsatisfactory performance of the State Power Utilities through methodical formulation and implementation of Operational and Financial
  • 3. Action Plan (OFAP). OFAP document based on diagnostic study encompasses in different areas of functioning of the power utilities. It is prepared in consultation and agreement with the utility and the State Government concerned. The thrust on OFAP and its linkages with the PFC assistance has brought about quantitative as well as qualitative changes in the performance of the utilities.  Financial Assistance for Power Sector Studies-In line with its development role, Power Finance corporation (PFC) provides technical and financial assistance by strategically providing grants, interest free and/or concessional loans to carry out the following studies: a) Reform & restructuring related studies. b) Pre-investment studies for project preparation formulation and supervision implementation etc. c) Studies for accessing the load Growth, Demand Pattern etc. d) Systems improvement in transmission and distribution and Demand side Management. e) Renovation & Modernization/ Renovation & Uprating/Residual life Assessment studies for refurbishment of power plants. f) Institutional development related studies.  Reforms & Restructuring of SEBs - PFC has been actively persuading State Govt. to reforms and restructuring of their power sector in order to make them commercially viable. PFC is therefore following the policy for providing technical and financial support to states initiating reforms & restructuring in their power wherein a comprehensive financial package is offered. In case of state going in for reforms with PFCs technical and financial assistance, this package can be as high as 80% of their total investment needs. This will be linked to having a reform Operational & Financial Action Plan (OFAP) with milestones and investment plans. Procedure for availing the above services related to Institutional Development – The beneficiaries will submit requests for services in the format prescribed for this purpose by PFC. Request for availing grant/soft loan will indicate the following in their application :- - The Terms of Reference - Objectives of Study - Deliverables of the Study - The process of selecting consultants - Hold points and schedule for deliverables and payment to consultants.
  • 4. - Proposed procedure for release of payments to consultants/ suppliers or reimbursements to SEBs - Proposed action plan to utilise the deliverables of the study These forms are available with Institutional Appraisal Development Unit of Power Finance Corporation and the address of concerned officers are mentioned in the public interface at annexure `A’ of this Charter. • OTHER SERVICES:  Consultancy Services- The goal of consultancy services is to provide quality consultancy services for the power and financial sectors and to achieve customer satisfaction through timely and successful completion of assignments. Fee based consultancy services were launched by PFC to power & financial sectors with the main objective of providing a range of services to both state owned power utilities, State Electricity Regulatory Commissions, State Governments, Electricity Departments and Private Sector participants. The range of services offered by PFC include Re-structuring and reform activities, operationalisation of reformed entities, Financial Management of resources including mobilization and accounting systems, Projects structuring/ planning/ development/ specific studies, implementation, monitoring, efficiency improvement projects for both state owned utilities and IPPs, Development of sustainable Human Resource Plan, Communication and Information Dissemination, Information Management system. • OTHER ACTIVITIES  Raising resources from domestic and international market  Servicing of Bond holders and protecting the interest of Bond holders by appointment of trustees  Disbursement of loan to qualifying borrowers after sanction as per disbursement procedure  Dealing with Banks and Financial Institutions  Settling claims of third parties/other service providers.
  • 5. 3.0 ACCESS TO INFORMATION • Further details and Information on the activities of the corporation as well as services offered is available in the various publications brought out by the corporation from time to time. These may be obtained from Officers detailed at Annexure `A’ under public interface. • Information regarding operations of the corporation, financial highlights and other important activities are also available at PFC’s Website at http://www.pfcindia.com. • Corporation publishes details of its operational results in leading newspapers every quarter/year as required under company law. • Details of Corporate performance etc. are also available with Corporate Communication & Public Relation Unit. 4.0 GRIEVANCE REDRESSAL • Citizens/Consumer have a right to approach concerned officers as per Annexure `A’ to settle grievances if any. • A senior officer is designated as Director (Public Grievances)(particulars available /displayed at Reception) who is available for the purpose as detailed in Annexure `B’. • Time limit for settlement of grievance is as per Annexure ‘C’ 5.0 TIME SCHEDULE • To govern its operations PFC formulates operation policy statement (OPS) outlining the operational philosophy of the corporation and guidelines for financial assistance. The OPS is reviewed from time to time to respond to the changing requirements and emerging needs of the Power Sector:-  While seeking financial assistance from Power Finance Corporation, the power utilities are expected to fill up standard loan application formats (available on PFC web site www.pfcindia.com) for respective category of loans. The loan application intra-alia contains a brief preface and instructions to the applicant (Part-I) for filling up the forms for early processing of loan application in PFC, it is necessary to indicate details as sought in the standard
  • 6. loan application format. A sample loan application for conventional coal fired for power plant is annexed.  PFC shall issue written acknowledgement for each application after receipt of the complete information as per standard application format.  Application complete in all respects would be processed within a reasonable time frame. 6.0 OBLIGATION OF BORROWERS • To supply complete & correct data/information required for taking decision by the Corporation. • To complete the project within time, cost schedule and adhered to conditions as sanctioned by the Corporation...Timely payment of dues including principal + interest. 7.0 OTHER ACTIVITIES OF CONSUMER/PUBLIC INTERFACE • Meeting of executives and State Power Utilities and state govt. are organized by the Corporation twice in a year to know their difficulties/suggestions for improving/ strengthening the relationship. 8.0 REVIEW OF THE CHARTER & PERFORMANCE AUDIT The performance of the Charter shall be reviewed once in a year based on the experience gained in the previous year. 9.0 NODAL OFFICER FOR PROACTIVE ACTION REGARDING THE CITIZEN CHARTER Rajeev Sharma, Executive Director Power Finance Corporation Ltd. "Urjanidhi" 1, Barakhamba Lane, Connaught Place, New Delhi-110 001 (O)23456301 (R)26125338 Fax No. 23456381
  • 7. ANNEXURE `A’ PUBLIC INTERFACE WHERE TO CONTACT : POWER FINANCE CORPORATION LTD. "URJANIDHI", 1, BARAKHAMBA LANE CONNAUGHT PLACE,NEW DELHI – 110 001 Tel No. 23456000/ 23456789(Fax No. 23412545) Web Site : http/www.pfcindia.com SL. ACTIVITY DEALING OFFICER RESPONSIB- CONTACT E-mail No. ILITIES NO. 1. Sanction of Loan for Various Projects (State Sector, Central Sector, Independent Power Projects) -Project Appraisal, Fuel and Capital equipment Financing and Consortium Lending (I) Andhra Sh. P.K.Singh, AGM Responsible for (O) pksingh@pfc. Pradesh Business 23456588, delhi.nic.in Development (R) and Project 26895608 Appraisal in the state of Andhra Pradesh. (II) Arunachal Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Pradesh Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Arunachal Pradesh. (III) Assam Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Assam. (IV) Bihar Sh. A.Chakravarti, Responsible for (O) achakravarti GM Business 23456687, @pfc.delhi.nic Development (R) .in and Project 22620322 Appraisal in the state of Bihar.
  • 8. (V) Chhattisgarh Sh. Subhash Responsible for (O) Subhas_chand Chandra, DGM Business 23456637, ra@pfc.delhi. Development (R) nic.in and Project 95-120-323 Appraisal in the 4215 state of Chhattisgarh. (VI) Delhi Sh. V.K.Kharbanda, Responsible for (O) vkkharbanda GM Business 23456585, @pfc.delhi.nic Development (R) .in and Project 95-124-232 Appraisal in the 7371 state of Delhi. (VII) Goa Sh. S.N.Gaikwad, Responsible for (O) sngaikwad@p AGM Business 23456681, fc.delhi.nic.in Development (R) and Project 95-120-288 Appraisal in the 2078 state of Goa. (VIII) Gujarat Sh. V.K.Kharbanda, Responsible for (O) vkkharbanda GM Business 23456585, @pfc.delhi.nic Development (R) .in and Project 95-124-232 Appraisal in the 7371 state of Gujarat. (IX) Haryana Sh. R.R.Jha, DGM Responsible for (O) rrjha@pfc.del Business 23456528, hi.nic.in Development (R) and Project 95-124-236 Appraisal in the 0975 state of Haryana. (X) Himachal Sh. R.S.Dhillon, Responsible for (O) rsdhillon@pfc Pradesh AGM Business 23456686, .delhi.nic.in Development (R) and Project 26132364 Appraisal in the state of Himachal Pradesh.
  • 9. (XI) Jammu and Sh. A.K.Agarwal, Responsible for (O) akagarwal@pf Kashmir GM Business 23456587, c.delhi. Development (R) nic.in and Project 26014066 Appraisal in the state of Jammu and Kashmir. (XII) Jharkhand Sh. A.Chakravarti, Responsible for (O) achakravarti GM Business 23456687, @pfc.delhi.nic Development (R) .in and Project 22620322 Appraisal in the state of Jharkhand. (XIII) Karnataka Sh. R.K.Chandiok, Responsible for (O) rkchandiok@ AGM Business 23456684, pfc.delhi.nic.i Development (R) n and Project 22721586 Appraisal in the state of Karnataka. (XIV) Kerala Sh. S.K.Bhan, AGM Responsible for (O) skbhan@pfc.d Business 23456785, elhi.nic.in Development (R) and Project 26136367 Appraisal in the state of Kerala. (XV) Madhya Sh. A.K.Agarwal, Responsible for (O) akagarwal@pf Pradesh GM Business 23456587, c.delhi. Development (R) nic.in and Project 26014066 Appraisal in the state of Madhya Pradesh. (XVI) Maharashtra Sh. S.N.Gaikwad, Responsible for (O) sngaikwad@p AGM Business 23456681, fc.delhi.nic.in Development (R) and Project 95-120-288 Appraisal in the 2078 state of Maharashtra.
  • 10. (XVII) Manipur Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Manipur. (XVIII) Meghalaya Sh. P.K.Sinha, DGM Responsible for (O) pksinha@pfc. Business 23456636, delhi.nic.in Development (R) and Project 26942748 Appraisal in the state of Meghalaya. (XIX) Mizoram Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Mizoram. (XX) Nagaland Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Nagaland. (XXI) Orissa Sh. P.K.Singh, AGM Responsible for (O) pksingh@pfc. Business 23456588, delhi.nic.in Development (R) and Project 26895608 Appraisal in the state of Orissa. (XXII) Punjab Sh. A.K.Agarwal, Responsible for (O) akagarwal@pf GM Business 23456587, c.delhi. Development (R) nic.in and Project 26014066 Appraisal in the state of Punjab.
  • 11. (XXIII) Rajasthan Sh. R.S.Dhillon, Responsible for (O) rsdhillon@pfc AGM Business 23456686, .delhi.nic.in Development (R) and Project 26132364 Appraisal in the state of Rajasthan. (XXIV) Sikkim Sh. G.S.Patra, AGM Responsible for (O) gspatra@pfc. Business 23456589, delhi.nic.in Development (R) and Project 22619928 Appraisal in the state of Sikkim. (XXV) Tamil Nadu Sh. R.K.Chandiok, Responsible for (O) rkchandiok@ AGM Business 23456684, pfc.delhi.nic.i Development (R) n and Project 22721586 Appraisal in the state of Tamil Nadu. (XXVI) Uttar Sh. C.P.Ravindra, Responsible for (O) cpravindra@p Pradesh DGM Business 23456522, fc.delhi.nic.in Development (R) and Project 42747040 Appraisal in the state of Uttar Pradesh. (XXVII) Uttarakhand Sh. A.Chakravarti, Responsible for (O) achakravarti GM Business 23456687, @pfc.delhi.nic Development (R) .in and Project 22620322 Appraisal in the state of Uttarakhand. (XXVIII) West Bengal Sh. A.Chakravarti, Responsible for (O) achakravarti GM Business 23456687, @pfc.delhi.nic Development (R) .in and Project 22620322 Appraisal in the state of West Bengal.
  • 12. (XXIX) Facilitation Sh. R.S.Johri, ED Responsible for (O) rsjohri@pfc.d Group all activities 23456581, elhi.nic.in pertaining to (R) areas such as 25088669 Financing of Fuel (both Gas and Coal) and its Transportation, Financing of Capital Equipment for Power Sector, etc. on an all India basis. (XXX) Consortium Sh. Naveen Kumar, Responsible for (O) naveen_kuma Lending ED all activities 23456682, r@pfc.delhi.ni Group pertaining to (R) c.in Consortium 25088826 Lending and Power Lender’s Club on an all India basis. (XXXI) Renewable Sh. A.K.Jain, ED Responsible for (O) akjain5@pfc.d Energy & all activities 23456683, elhi.nic.in Clean pertaining to the (R) Developmen renewable 22376565 t Group energy sector including CDM of all projects on an all India basis. 2 Finance & Financial Operations: (I) Recovery Sh. R.C. Gupta, Responsible for (O) rcgupta@pfc. AGM matters 23456884, delhi.nic.in pertaining to (R) Recovery of 25526260 Loans. (II) Corporate Sh. J.K. Gulati, Responsible for (O) jkgulati@pfc.d Accounts and GM(CAT) the areas 23456881, elhi Taxation related to (R) .nic.in Corporate 25220028 Accounts and Taxation
  • 13. (III) Financial Policy Smt. Nalini Vanjani, Responsible for (O) nalini_vanjani & GM (P&FC) matters 23456882, @pfc.delhi.nic Concurrence pertaining to (R) .in Financial 26191530 policies & Concurrence. (IV) Investor's Sh. S.N. Budhiraja, Responsible for (O) snbudhiraja@ Services AGM matters 23456287, pfc.delhi.nic.i pertaining to (R) n Investor's 27868937 services (V) Asset liability & Sh. K. Sridhar, AGM Responsible for (O) ksridhar@pfc. Risk (AL&RM) matters 23456883, delhi.nic Management pertaining to (R) .in Asset liability & 25088556 Risk Management department. (VI) Corporate Risk Sh. M. Ravi, AGM Responsible for (O) mravi@pfc.de Assurance matters 23456887, lhi.nic.in pertaining to (R) implementation 29226829 of risk management framework. (VII) Fund Sh. N.B. Gupta, Responsible for (O) nbgupta@pfc. Management & AGM matters 23456285, delhi.nic.in Banking pertaining to (R) Treasury 25595328 Management, Banking and Equity Fund. (VIII) Financial Sh. J.K.Gulati, GM Responsible for (O) jkgulati@pfc.d Products matters 23456881, elhi pertaining to (R) .nic.in Debt 25220028 Refinancing and Bill Discounting. (IX) Establishment Smt. Nalini Vanjani, Responsible for (O) nalini_vanjani Accounts GM matters 23456882, @pfc.delhi.nic pertaining to (R) .in Establishment 26191530
  • 14. Accounts, Bills & PF. (X) Resource Sh. A.K.Gupta, Responsible for (O) akgupta@pfc. Mobilization AGM matters 23456386, delhi.nic.in (Domestic & pertaining to (R) International) the mobilization 27474114 of resources in domestic and international areas. (XI) Disbursement Sh. Alok Sud, AGM Responsible for (O) alok_sud@pfc (Disb.) matters 23456286, .delhi.nic.in pertaining to (R) disbursement of 24119516 loans sanctioned for various projects. Institutional Development & Administration including Reform Activities – 3. SEBs/IPP, Entity Appraisal, Exposure Assessment, Preparation & Implementation of Operational &Financial Action Plan. (I) Entity Appraisal Sh. D. Ravi, GM Responsible for (O) dravi@pfc.del Unit matters 23456184, hi.nic.in pertaining to ( (R) Appraisal of 25284255 State Entities (SEB/State Power Utilities), IPP Conventional Projects, IPP renewal and hydro projects. (II) q Reform Review Sh. V.K. Shah, GM Responsible for (O) vkshah@pfc.d matters related 23456183, elhi.nic.in to review of (R) reforms. 22775803 (III) State Sector Sh. G.S. Ghai, AGM Responsible for (O) gsghai@pfc.d Analysis & State Sector 23456186, elhi.nic.in Research Analysis & (R) Research. 25884653
  • 15. 4. Legal & Sh. R.K.Mittal, AGM Responsible for (O) rkmittal@pfc. Documentation matters 23456185, delhi nic.in pertaining to (R) legal services, 95-120-2633 Execution of 260 loan documents, etc. 5. Estate & Sh. M.C.Malik, Responsible for (O) mcmalik@pfc. Building AGM matters 23456384, delhi.nic.in Management pertaining to (R) Estate & 26178014 Building Management. 6. Accelerated Sh. S.K.Urmalia, Responsible for Sh. skurmalia@pf Power GM; matters S.K.Urmalia - c.delhi.nic.in, Development & Sh. Avkash Saxena, pertaining to (O) avkash_saxen Reforms GM Accelerated 23456389, a@pfc.delhi.n Program Power (R) ic.in (APDRP) Development, 95-120-2883 programs 428; related to reforms and Sh. Avkash projects under Saxena - APDRP Scheme. (O) 23456383, (R) 26944275 7. Administrative Sh. R.R. Khan, GM Responsible for (O) rrkhan@pfc.d & Support matters 23456388, elhi.nic.in Services pertaining to (R) Administration 22621512 & Support Services. 8. Human Smt. Kalpana Kaul, Responsible for (O) kalpana_kaul Resources AGM matters 23456382, @pfc.delhi.nic pertaining to (R) .in Human 26524418 Resources and Human Resource including Training & Development.
  • 16. 9. Library & Sh. Yogesh Juneja, Responsible for (O) yjuneja@pfc.d Rajbhasha Unit AGM matters 23456784, elhi.nic.in pertaining to (R) Library and 25082068 implementation of Rajbhasha in the Corporation. 10. Management Sh. K.V.V. Responsible for (O) satyak@pfc.d Systems Satyanarayana, matters 23456782, elhi.nic.in AGM pertaining to (R) Management 22717424 Systems including computerizatio n, powernet projects etc. 11. PFCCL Sh. N.D. Tyagi, CEO Responsible for (O) ndtyagi@pfc. providing 23456100, delhi.nic.in Consultancy (R) Services. 27023058 Others 12. PECAP Ltd. & Sh. Ashok Gupta, Responsible (O) ashok_gupta Equity ED for all matters 23456281, @pfc.delhi.nic Consortium pertaining to (R) .in Funding PECAP Ltd. and 22542804 funding of power projects through equity consortium etc. 13. Vigilance Sh. Chhabilendra Responsible (O) chhabilendra_ Roul, CVO for all matters 23456951, roul@pfc.delh pertaining to (R) i.nic.in vigilance. 26180464 14. Internal Audit Sh. Neeraj Kumar, Responsible (O) neeraj_kumar AGM for conducting 23456783, @pfc.delhi.nic Internal Audit (R) .in in the 25082979 Company. 15. Public Relations Sh. Avkash Saxena, Responsible (O) avkash_saxen GM for all matters 23456383, a@pfc.delhi.n
  • 17. pertaining to (R) ic.in Public 26944275 Relations. 16. Corporate Sh. P.P. Srivastava, Responsible (O) prempsri@pfc GM for all matters 23456583, .delhi.nic.in Planning pertaining to (R) Corporate 22751573 Planning. 17. Company Sh. J.S. Amitabh, Acting as a (O) 23456740 jsamitabh@pf Secretariat Company Secretary Company (R) c.delhi.nic.in Secretary 9120-240222 0 i. Chennai Sh. V.Jeya Kumar, Responsible (O) vjkumar2000_ Office :PFC GM for the 044-2860243 2000@yahoo. (South Regional functioning of 3 com Office), the Chennai (R) Ist Floor (Rear Office. 044-2461318 Site), 9 SPS Building New No. 185, Old No. 137, Anna Salai, CHENNAI-60000 2 ii. Mumbai Office Sh.Alok Singhal, Responsible (O) pfcrow@hath (Western AGM for the 022-2288244 way.com Regional functioning of 0/ 22882482 Office) the Mumbai Ground Floor, Office. Moon Light Bldg., 158,Maharishi Karve Road, Mumbai – 400 020
  • 18. ANNEXURE `B’ NAME, ADDRESS & CONTACT NUMBER OF DIRECTOR (PUBLIC GRIEVANCE OF POWER FINANCE CORPORATION LTD. Ashok Gupta (O) 23456281 Executive Director (Finance) & (R) 22542804 Director (Public Grievance) Power Finance Corporation Ltd., "Urja Nidhi", 1,Barakhamba Lane Connaught Place, New Delhi – 110 001.
  • 19. ANNEXURE `C’ TIME LIMIT FOR SETTLEMENT OF GRIEVANCES 1 Forwarding of the Grievance petition to the 1-2 Days Concerned authority. 2 Issue of acknowledgement / interim reply 7 Days 3 Final reply to the Petitioner 4 Weeks
  • 20. ABBREVIATIONS THE ABBREVIATIONS USED IN THIS CHARTER HAVE THE FOLLOWING ELABORATED NAMES : 1. PFC Power Finance Corporation Ltd. 2. IFCI Industrial Financial Corporation of India Ltd. 3. ICICI Industrial Credit & Investment Corporation of India 4. SEB State Electricity Board 5. IPPs Independent Power Producers 6. NR Northern Region 7. SR Southern Region 8. WR Western Region 9. ER&NER Eastern and North East Region 10. CM&IS Corporate Management & Information System 11. FI Financial Institutions 12. WCL Working Capital Loan 13. R&M Renovation & Modernization 14. PPA Private Power Agreement 15. LES Lender Engineering Services 16. OPS Operational Policy Statement 17. T&SD Technology & System Development 18. GoI Govt. of India 19. OFAP Operational & Financial Action Plan