Rural Electrification Corporation (REC) has received approval to raise Rs 90,000 crore under different debt segments for FY20. The Board of Directors of the Company at its meeting held on March 20, 2019 has approved the same.
The company’ board has approved to raise Rs 78,000 crore through instruments such as domestic bonds/debentures, external commercial borrowings (ECBs) and capital gains tax exemption bonds and Rs 12,000 crore through short term loan from banks/FIs/NBFCs and commercial paper.
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.
