Power Finance Corporation (PFC), a state-run power financier in India, has announced plans to merge with REC Ltd by April 1, 2027. This merger aims to establish a single-window financing platform for the power sector. PFC's chairman, Parminder Chopra, confirmed that both boards have given in-principle approval and that legal and financial advisers have been appointed to facilitate the merger process. In its latest financial report, PFC recorded a 3% increase in consolidated net profit, reaching ₹8,597.61 crore compared to ₹8,357.88 crore in the same quarter last year. However, total income fell to ₹28,856.60 crore, down from ₹29,285.45 crore in the previous year, and net interest income dropped 11% year-on-year to ₹10,833 crore. Chopra noted that the company expects loan book growth of 10% in FY27 and plans to borrow ₹1.6 lakh crore to support this growth. Despite facing currency fluctuations that resulted in losses of approximately ₹1,500 crore, PFC has hedged nearly 97% of its foreign currency borrowings. Additionally, PFC has raised concerns with the Reserve Bank of India (RBI) regarding proposed changes to the classification of non-banking financial corporations (NBFCs), particularly the reduction of group exposure limits from 50% to 35%.