The power ministry has sought bonds mainly normal as well as a special window provided by the Reserve Bank of India for large NBFCs, funds from institutions like EPFO, NSSF, LIC and multi-lateral agencies as well as external commercial borrowings, another official said. RBI last month announced Rs 50,000 crore capital support for National Housing Bank, National Bank for Agriculture and Rural Development and Small Industries Development Bank of India at 4.4% repo rate.
The official added that banks can lend 25% of their net worth to PFC and its group company REC. For raising a large amount of fund for the liquidity infusion scheme, the limits will have to be revised, he said.
As per the proposal, PFC and REC will launch a special loan product to specifically help discoms clear the power generators’ bills. The special loans from PFC and REC are proposed to be paid directly to power plants to clear over Rs 88,000 crore dues on behalf of the discoms.
