NEW DELHI: As a lot as Rs 1.08 lakh crore price of loans beneath the liquidity bundle for careworn energy 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 hunch as a result of 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 (Energy Finance Company) have sanctioned Rs 1.08 lakh crore and launched almost Rs 30,000 crore to discoms beneath the scheme,” REC mentioned in an announcement.
The loans beneath the bundle shall 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) beneath the scheme.
The settlement was signed between the Authorities of Jammu & Kashmir, JKPCL, REC and PFC.
Beneath the liquidity infusion scheme of the Centre, REC and PFC are extending monetary help at a concessional charge of curiosity, it added.

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