Loans worth Rs 1.18 lakh crore sanctioned under discom liquidity package
New Delhi: Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation NSE 0.30 % and REC Ltd NSE -4.85 % under the liquidity package for stressed power distribution utilities, a statement said. In May, Finance Minister Nirmala Sitharaman had announced Rs 90,000 crore liquidity infusion into cash-strapped discoms facing demand slump due to the COVID-19 crisis.
This package was later increased to Rs 1.2 lakh crore by the Ministry of Power.
“The company and its subsidiary REC Ltd, upto October 31, 2020, has sanctioned an amount of Rs 1,18,273 crore respectively under this scheme of liquidity package to eligible discoms,” PFC said in a BSE filing.
