In Could, finance minister Nirmala Sitharaman introduced Rs 90,000 crore liquidity infusion into cash-strapped discoms, going through demand droop because of the lockdown to include 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 below the scheme,” REC stated in an announcement.
The loans below the bundle will likely be co-funded by PFC and REC in equal proportion. The loans could be sanctioned in two equal tranches.
REC additionally stated it has sanctioned Rs 2,790 crore to Jammu Kashmir Energy Company Ltd (JKPCL) below 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.