Support: +91-22-61011756 / help@projectstoday.com
Help
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

PFC, REC to offer 10 year loans to state discoms at 9.5 percent

Monday, 01 Jun 2020
Share this on :
The Power Finance Corporation (PFC) and REC have decided to offer 10-year loans to state distribution utilities at 9.5 percent for the next 60 days under the Rs 90,000 crore liquidity infusion package.

The government is considering relaxing working capital borrowing limits of power distribution companies to the extent required for borrowing under the liquidity infusion scheme, subject to a maximum of 35 percent to 40 percent of a discom’s previous year’s revenue.

Currently, banks and financial institutions can lend only 25 percent of a discom’s revenue in the previous year as working capital. This restriction was imposed after clearance by the Union Cabinet at the time of Ujwal Discom Assurance Yojna (UDAY) scheme. PFC and REC have fixed interest rates under the liquidity package at 8.75 percent for three year loans, nine percent for five year loans, 9.25 percent for seven years and 9.5 percent for 10 year term loans.

The interest rates will be valid for the next 60 days. Electricity distribution companies of states including Maharashtra, Telengana, Andhra Pradesh, Uttar Pradesh, Meghalaya, Jammu & Kashmir and Tamil Nadu have expressed interest in borrowing the loans from PFC and REC for about Rs 60,000 crore loans and are likely to complete documentation in seven-10 days.

Uttar Pradesh is likely to approach two lenders for Rs 20,000 crore, Tamil Nadu for Rs 18,000 crore, Telengana for Rs 12,000 crore, Andhra Pradesh for Rs 6,500 crore and Maharashtra for Rs 5,000 crore.

 
Post Your Comments
 
 
   
 

 

 
  
Sign up to start your free trial

Are you...



REGISTER AND GET STARTER KIT ABSOLUTELY FREE!

Free access to Project News and Analysis

Project and Tender Alert in your mailbox

Explore the largest Database on Projects for free

Be part of Online Projects Community

User login
Start Exploring

Subscribe to any of our premium plans to

Access to complete information on 43000+ projects

Use our Notification service for instant update on projects and tenders

Closely monitor your opportunities with "WORKSPACE"

Use our online platform for promotions of your products and services