Rural Electrification Corporation (REC) is planning for Market Borrowing Programme under different debt segments for the financial year 2019-20 and to launch of Capital Gains Tax Exemption Bonds (Series XIII) under Section 54 EC of the Income Tax Act, 1961 for raising of funds during the financial year 2019-20. The company is also planning modification in limits of the existing Market Borrowing Programme for the financial year 2018-19. The meeting of Board of the company is scheduled to be held on February 28, 2019, to approve the same.
The funds under the above-mentioned Market Borrowing Programmes will actually be raised during the respective period, with the approval of competent authority as per powers delegated in this regard, by the Board of Directors in the said Meeting.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
