Uttar Pradesh seeks Rs 20,940 crore loan to clear power bills
NEW DELHI: Uttar Pradesh power distribution utility has sought Rs 20,940 crore loan from REC Ltd NSE 0.53 % and Power Finance Corp (PFC) under the Atmanirbhar Bharat liquidity infusion package in the power sector.
This is the largest loan application made so far by any state distribution company under the scheme. Tamil Nadu has asked the Centre to relax borrowing cap and has shown intent to borrow about Rs 20,622 crore. The power ministry has approached the Cabinet for the relaxations and the matter is likely to be taken up soon.
