The Ministry of Corporate Affairs, through its notification dated September 26, 2011, published in the Official Gazette of India notified Srei, as a Public Financial Institution under Section 4A of the Act.
What is a PFI?
Public financial institutions (PFI) are an important part of the financial landscape around the world. Public financial institutions are commonly associated with developing countries and enjoy certain benefits and advantages under the Companies Act, 1956, Recovery of Debts due to Banks and FIs Act,
1993, Income Tax Act etc.
Why Invest in a PFI?
The foremost advantage that accrues to the PFIs is that the bonds issued and certain other liabilities of PFIs are treated as eligible investments for insurance companies, Provident Funds (PFs), Mutual Funds (MFs) and RNBCs. According to RBI, any financial institution that has been conferred upon the status of Public Financial Institution is considered to be safe for investments.
When you invest in NCDs from Srei, you enjoy the security of investing with a company that has been awarded the prestigious status of a Public Financial Institution.
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