Government-owned institutions are often perceived as inefficient and transacting with them is considered a time-consuming process. However, the over three-decade-old State-owned Tamil Nadu Power Finance and Infrastructure Development Corporation Ltd., (TNPFC) has broken the mould by remaining lean and undertaking a digital transformation. It has also emerged as one of the trusted institutions, which delivers a higher than bank interest rate for deposits.
The TNPFC commenced operations in 1991 and is registered as a non-banking finance company. It mobilises funds through various attractive deposit schemes and provides financial assistance to power and infrastructure projects of the Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco).
The fixed deposits are mobilised from the public, institutions, government departments and State government schemes, such as cash incentive scheme, bread-winning schemes, the Chief Minister’s Girl Child Protection Scheme, Oru Kala Pooja Scheme and the COVID-19 Scheme.
