REC and PFC, the state-run lenders that are the nodal lending agencies for the Rs 3.03 lakh crore revamped distribution sector scheme (RDSS) launched by the Union ministry of power in August last year, will release the first tranche of funds to a host of states including Uttar Pradesh, Assam and Meghalaya by March 31, sources said.
According to sources, the funds will be disbursed in the form of ad hoc 10% of grant from the central government, while the rest of the disbursal will depend on the discoms concerned fulfilling various conditions under the scheme.
