NEW DELHI: As a lot as Rs 1.08 lakh crore price of loans underneath the liquidity package for burdened power distribution utilities have been sanctioned to date, REC mentioned on Saturday.
In Could, finance minister Nirmala Sitharaman introduced Rs 90,000 crore liquidity infusion into cash-strapped discoms, going through demand stoop because of the lockdown to comprise COVID-19.
This bundle was later elevated to Rs 1.2 lakh crore by the Ministry of Energy.
“Until date, REC and PFC (Power Finance Corporation) have sanctioned Rs 1.08 lakh crore and launched practically Rs 30,000 crore to discoms underneath the scheme,” REC mentioned in a press release.
The loans underneath the bundle will probably be co-funded by PFC and REC in equal proportion. The loans can be sanctioned in two equal tranches.
REC additionally mentioned it has sanctioned Rs 2,790 crore to Jammu Kashmir Energy Company Ltd (JKPCL) underneath the scheme.
The settlement was signed between the Authorities of Jammu & Kashmir, JKPCL, REC and PFC.
Below the liquidity infusion scheme of the Centre, REC and PFC are extending monetary help at a concessional price of curiosity, it added.

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