REC Limited, a central PSU, will extend financial assistance of Rs 3,045 crore to Bangalore Metro Rail Corporation Limited (BMRCL) for the under-construction Phase 2.
The PSU, which comes under the Ministry of Power, took the decision at its board meeting in Bengaluru on June 24, according to a statement.
The BMRCL had sent a proposal in this regard.
REC Limited is an NBFC that focuses on power sector financing and development across India. The financial assistance to BMRCL is part of REC’s foray into funding infrastructure development, the statement said.
