PFC, REC sanction loans worth Rs 1.18 trn under discom liquidity package
Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation and REC Ltd 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.
