As a measure to widen the sources of low-cost funding, state-run Power Finance Corporation (PFC) is planning to tap new avenues, including borrowing from the RBI and the retail market. \u201cWe urgently need to increase our share of 54EC capital gain tax bonds, open up new avenues like a borrowing facility from RBI and also tap retail going forward in the near term,\u201d the lender\u2019s newly-appointed chairman and managing director Ravinder Singh Dhillon said on Monday, in his maiden address to employees after coming to the helm of affairs.<\/p>\n
Dhillon\u2019s comment on finding new sources of borrowing closely follows the government announcing a fresh loan of Rs 90,000 crore through PFC-REC to salvage the state-run power distribution companies (discom). PFC is said to lend the money at a spread of 150 bps from the competitive rates they will raise the capital. \u201cAlready some states like Punjab, Uttar Pradesh, Rajasthan, Manipur and Karnataka have evinced interest to avail this package,\u201d Dhillon said. The amount allotted to the discoms will released directly to the power generators (gencos) which owe money from these entities.<\/p>\n","protected":false},"excerpt":{"rendered":"
As a measure to widen the sources of low-cost funding, state-run Power Finance Corporation (PFC) is planning to tap new avenues, including borrowing from the RBI and the retail market. \u201cWe urgently need to increase our share of 54EC capital gain tax bonds, open up new avenues like a borrowing facility from RBI and also tap retail going forward in the near term,\u201d the lender\u2019s newly-appointed chairman and managing director Ravinder Singh Dhillon said on Monday, in his maiden address to employees after coming to the helm of affairs. Dhillon\u2019s comment on finding new sources of borrowing closely follows the […]<\/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":[130,240,138],"tags":[],"class_list":["post-355030","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/355030","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=355030"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/355030\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=355030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=355030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=355030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}