Power Finance Corporation (PFC) and REC have further reduced their lending rates across all types of loans by 40 Bps. In the last about one year, both the organisations have reduced lending rates cumulatively by upto 3%.
In order to give a boost to Renewable Energy, where long term funding is required, the rates have been revised to as low as 8.25%. The reduction in rates has been possible due to lower cost of borrowings by these organisations, in the past year or so.
PFC is central PSU under Ministry of Power and India's leading NBFC.
