{"id":331683,"date":"2020-01-31T10:47:39","date_gmt":"2020-01-31T05:17:39","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=331683"},"modified":"2020-01-31T10:47:39","modified_gmt":"2020-01-31T05:17:39","slug":"power-finance-corporation-rec-merger-hits-roadblock","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/power-finance-corporation-rec-merger-hits-roadblock\/","title":{"rendered":"Power Finance Corporation, REC merger hits roadblock"},"content":{"rendered":"<p>NEW DELHI: The proposed merger of RECNSE -2.40 % with state-owned shadow banking firm Power Finance CorporationNSE -2.09 % has hit a roadblock and is not likely to happen in near future as it would violate Reserve Bank norms on the exposure of non-banking financial companies (NBFCs), according to sources.<\/p>\n<p>As per the Reserve Bank of India&#8217;s (RBI) norms, debt exposure of an NBFC in a project cannot exceed 25 per cent. The exposure of Power Finance Corporation (PFC) and REC as a merged entity would exceed the limit of 25 per cent in any existing project as the two firms have been financing power sector projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The proposed merger of RECNSE -2.40 % with state-owned shadow banking firm Power Finance CorporationNSE -2.09 % has hit a roadblock and is not likely to happen in near future as it would violate Reserve Bank norms on the exposure of non-banking financial companies (NBFCs), according to sources. As per the Reserve Bank of India&#8217;s (RBI) norms, debt exposure of an NBFC in a project cannot exceed 25 per cent. The exposure of Power Finance Corporation (PFC) and REC as a merged entity would exceed the limit of 25 per cent in any existing project as the two [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-331683","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/331683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=331683"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/331683\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=331683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=331683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=331683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}