Explanation:

As per Section 2(72) of Companies Act, 2013 ‘Public Financial institution means:

Life Insurance Corporation established under LIC Act, 1956

Infrastructure Development Finance Company Limited

Unit Trust of India

Institutions notified by Central Government under Section 4A of Companies Act, 2013

Any other institution notified by RBI if:

It shall be established or constituted by or under any Central or State Act, other than Companies Act.

Not less than 51% of its paid-up share capital is held or controlled by Central Government or by any State Government(s) or Partly by Central Government and partly by one or more State Governments