REC takeover: PFC to draw Rs 10,000 crore from reserves

New Delhi: In spite of a prior arrangement to support its obtaining of the Center’s 52.63per penny stake in Rural Electrification Corporation (REC) fundamentally through borrowings, state-run Power Finance Corporation (PFC) will probably draw Rs 10,000 crore from its ‘stores and surplus’ to do the Rs 14,000-crore buy. The arrangement will appear in the not so distant future, making a noteworthy commitment to the Center’s disinvestment kitty for the year. Sources said the obtaining is probably going to be obligation subsidized by just to the tune of Rs 4,000 crore.