REC has received approval to raise up to Rs 85,000 crore in FY23 which includes Rs 75,000 crore from different types of bonds, term loans, external commercial borrowing among others. The company will also raise up to Rs 5,000 crore through short-term loans from Banks/Fls/NBFCs etc. The company has also planned to raise Rs 5,000 crore through commercial papers. The board of director at their meeting held on March 21, 2022 has approved the same.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
