The Uttar Pradesh government has requested the Power Finance Corporation (PFC) and the Rural Electrification Corporation (REC) for Rs 20,940-crore loan to help its power distribution companies (discoms), seeking a sizeable chunk of the Centre’s bailout package.
The total indicative amount from states for loans under the Atmanirbhar scheme has reached Rs 98,066 crore.
Under the scheme, Union government-owned power sector lenders PFC and REC will give equal loan amounts to states that commit to follow a reforms path indicated by lenders. The money is to be used for paying off dues of power generating companies (gencos).
A senior official said the formal loan applications from all states now totals Rs 87,320 crore.
