Definition of "Public Financial Institution" in Section 2(72) of Companies Act, 2013: Includes LIC, IDFC, UTI companies.

A "public financial institution" under section 2(72) of the Companies Act, 2013 includes entities like the Life Insurance Corporation of India, the Infrastructure Development Finance Company Limited, and specified companies under the Unit Trust of India Act. It also encompasses institutions notified by the Central Government in consultation with the Reserve Bank of India. For an institution to be notified, it must be established by a Central or State Act, or have at least 51% of its paid-up share capital held by the Central or State Government(s).

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