Rs 1.08 lakh crore value loans sanctioned underneath discom liquidity package deal

NEW DELHI: As a lot as Rs 1.08 lakh crore value of loans underneath the liquidity package deal for harassed energy distribution utilities have been sanctioned up to now, REC mentioned on Saturday.
In Might, finance minister Nirmala Sitharaman introduced Rs 90,000 crore liquidity infusion into cash-strapped discoms, dealing with demand droop because of the lockdown to comprise COVID-19.
This package deal was later elevated to Rs 1.2 lakh crore by the Ministry of Energy.
“Until date, REC and PFC (Energy Finance Company) 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 package deal will likely be co-funded by PFC and REC in equal proportion. The loans could 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.
Underneath the liquidity infusion scheme of the Centre, REC and PFC are extending monetary help at a concessional fee of curiosity, it added.

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