New Delhi, Jul 3 (PTI) PTC India Financial Services Ltd (PFS) on Friday said it has secured a Rs 300 crore term loan from State Bank of India, to meet its business growth needs.

The money will be utilised for further strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, PFS said in a release.

Also Read | Call of Duty: Warzone Battle Royale Shooter Video Game Now Supports 200-Player Matches.

SBI has sanctioned us a term loan - working capital augmentation (TLWC) of Rs 300 crore with a door-to-door tenor of three years, including a moratorium of six months, with sub-limit of Rs 300 crore as investment limit for investment in commercial papers/non-convertible debentures/bonds within the overall TLWC limit, it said in a release.

SBI has already given credit lines of Rs 1,400 crore to the company and now with current sanction their exposure will increase to Rs 1,700 crore and it will further diversify company's sources of borrowings, PFS said.

Also Read | Samsung Galaxy A31 Smartphone's Price Slashed by Rs 1,000 in India; Now Available at Rs 20,999.

PFS proposes to have further alternate sources of financing like ECB, commercial paper, bonds, etc for which advance progress has already been made.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)