PFC Becomes First Member From India To Join Japan’s ATFSG

Current Context: PFC stands for Power Finance Corporation Ltd, a central public sector undertaking owned by the Ministry of Power, Government of India. It was established in 1986 and serves as the crucial financial pillar of the Indian power sector.

• ATFSG stands for Asia Transition Finance Study Group, an initiative launched by the Japanese Ministry of Economy, Trade and Industry (METI) in October 2021.
• PFC became the first member from India to join ATFSG during the Bilateral Ministerial Meeting between Hon’ble Minister of Power and New and Renewable Energy Mr. R. K. Singh and His Excellency Mr. Yasutoshi Nishimura, Minister of Economy, Trade and Industry, Government of Japan on the sidelines of the G20 summit in Goa on July 25th, 2023.
• By joining ATFSG, PFC will not only contribute India’s perspective but also collaborate on devising policy considerations to facilitate efficient energy transition financing.
• This is a significant step for PFC and India, as it shows their commitment to promoting financing for Energy Transition and Net Zero goals in Asia. It also strengthens the bilateral cooperation between India and Japan in the field of energy and climate change.

Question:

Q.1 What is the full name of PFC, the central public sector undertaking that joined ATFSG?
a. Power Facilitation Corporation Ltd
b. Power Funding Corporation Ltd
c. Power Financing Corporation Ltd

d. Power Finance Corporation Ltd