REC’s board has approved Rs 1,20,000 crore market borrowing programme for 2023-24, which includes various types of bonds and loans (Rs 1,05,000 crore), short-term loans (Rs 10,000 crore) and commercial papers (Rs 5,000 crore). The proposed borrowing programme for the financial year 2023-24 will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions. The Board of Directors of the company in its meeting held on March 9, 2023, inter-alia 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.
