The Power Finance Corporation started in 1986. It is working as a financial backbone of the power sector in India. Satnam Singh was the Chairman and MD of the Power Finance Corporation for 30 years. People mentioned him as the Satnam Singh PFC. He gave assurance whatever the situation is, PFC is always there to help out the power sectors. High-interest rates always make the power sectors into trouble. It can be a professional sector or personal sector- Mr. Satnam Singh is always been a high achiever in every sector. In his personal life people (families and friends) always take advice from him to sort out various problems too.
There is no certainty about the global financial situation. Sometimes it goes slow and sometimes it goes up. When it goes slow then it gives a negative impact on various sectors. But as Mr. Satnam Singh gave assurance that despite the global economic slowdown, the power sector won't be affected. The Power Finance Corporation is always there to finance the power sector with reasonable interest rates.
No one can ignore suggestions from a commerce graduate with an MBA degree and has 30 years of experience in the power and finance sector. Especially when he is giving assurance regarding the stability of the power sectors, then it is understandable that person has something. Mr. Satnam Singh Power Finance Corporation becomes a known name in this field. He had a sound academic record. He won the gold medal in academics. People recall him for taking an active part in PFC IPO in 2007. His contribution to the Power Finance Corporation cannot be forgettable. The successful transition from the ‘mini Ratna to ‘navratna' is a matter of pride. It is the highest recognition in the power sectors. It is the most aspirant recognition in India.
Since his student life, Mr. Satnam Singh PFC has tended to do excellence in that. Even when he was doing sports-related activities, especially in Kabaddi, he won. He said proudly that he can hold his breath for a long time. If he heard the word ”it can't be done”, at that time he became determined to make that thing happen on a positive note. This attitude makes him successful in solving, analyzing, and introducing new ideas. He never sits idle. When other students were spending leisure time in college summer vacation, he used to work on his uncle's lathe machine. It helped him to earn some extra money. He showed this attitude in his field and professional field both.
Mr. Satnam Singh CEO mentioned if there is a high interest during the global economical slowdown, then the payback is delayed or not completed. That's why he emphasized providing low-interest rates to the power sectors. He added that by providing the right interest rate to the sufferer power sectors can able to extend the functional life by at least 25 to 40 years. If the high-interest rate is in the current year then low-interest-rate should be in the next year. He suggested this balanced theory to survive the power sectors. As a result, whatever the situation in the global economy field, power sectors won't have any damage.
Power Finance Corporation fixes the loan related issues and financing the power sectors which are suffering low growth. Power sectors are facing challenges to deal with fuel shortages, etc.
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