REC has made record loan sanctions worth Rs 3,58,816 crore during 2023-24, posting a year-on-year rise of 33.66%. It had sanctioned Rs 2,68,461 crore as loan during the preceding 2022-23 fiscal.
Its loan disbursements stood at Rs 1,61,462 crore in 2023-24 as against Rs 96,846 crore in 2022-23, i.e. up by 66.72%. As of March 31, 2024, the company's loan book was at Rs 5,09,545 crore, higher 17.13% as against Rs 4,35,012 crore in FY23.
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.
