NEW DELHI : Power distribution companies (discoms), hoping to benefit from the \u20b990,000 crore loans that finance minister Nirmala Sitharaman said Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will provide them to help them combat the covid-19-induced stress, are in for a surprise, according to a copy of the document seen by Mint.<\/p>\n
The power sector lenders have set stiff conditions to lend money under the scheme. One of them is that a discom should not be owing money to either at the time of availing the loan. As per the scheme, approved by PFC board on 16 May, the two power sector-focused lenders will give funds in two tranches, each carrying a set of riders. \u201cThe primary condition before extending the loan will be that the borrower should not have any overdues to PFC or REC,” said an official familiar with the development.<\/p>\n
The discoms will have to show that the undertakings given at the time of tranche-I loan are being implemented, if not already done so, the official said.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI : Power distribution companies (discoms), hoping to benefit from the \u20b990,000 crore loans that finance minister Nirmala Sitharaman said Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will provide them to help them combat the covid-19-induced stress, are in for a surprise, according to a copy of the document seen by Mint. The power sector lenders have set stiff conditions to lend money under the scheme. One of them is that a discom should not be owing money to either at the time of availing the loan. As per the scheme, approved by PFC board on 16 […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-354194","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354194","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=354194"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/354194\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=354194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=354194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=354194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}