REC approves increase in borrowing to Rs 1.5 trillion
State-owned REC has approved a proposal to increase the borrowing to Rs 1.5 trillion from Rs 1.2 trillion for the financial year 2023-24, the company said on Thursday.
“The board of directors of REC, in its meeting held on November 30, 2023, approved revision in its market borrowing programme under different debt segments with interchangeability among various instruments, including bonds/debentures, term loans, external commercial borrowing, commercial papers etc. on private/public placement basis from Rs 1,20,000 crore to Rs 1,50,000 crore for 2023-24,” the company said in a regulatory filing.
