REC granted infrastructure finance company status

20 Sep 2010

1

Rural Electrification Corporation has said that the Reserve Bank of India(RBI) has granted it the status of infrastructure finance company which would allow it to increase its lending to power projects.

In a statement the company said it can now take an additional lending exposure of up to 5 per cent of its owned funds in case of a single borrower and up to 10 per cent of its owned funds in case of a group of borrowers taking the permissible exposure to 40 per cent of owned funds in case of a group of borrowers.

The corporation also becomes eligible for issuance of infrastructure bonds and for raising funds up to $500 million (Rs2,500 crore approximately) through external commercial borrowings in a year.

REC finances power generation, transmission and distribution projects in the country.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more