PHFCL observes 16th foundation day
Source: The Sangai Express

Imphal, September 07 2021: The 16th foundation day of Panthoibi Housing Company Limited (PHFCL) was celebrated at Manipur Press Club at Majorkhul today.

Speaking on the occasion, Chairman of PHFCL, Thokchom Hemo said that the non banking finance company was established on September 7, 2005 at Uripok Tourangbam Leikai and it was registered on January 19, 2006 .

He further stated that the company has been recognised as a Finance Company by Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 regulated by RBI.

He maintained that the network fund of PHFCL have increased from Rs 2 crore to Rs 20 crore which is a big achievement.

Talking about the inception of the company, T Hemo he founded the company after completing his graduation from Imphal College as he thought that the State was in dire need of a financial institution and credited the success of the company to the teamwork rendered by its staff.

He said that planning are underway to expand the company at National and International level.

Emphasizing on the need to instill a healthy work culture in the State, he said that people should take up whatever work that comes the way instead of waiting for grants and aids from the Government.

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