RK Singh

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PFC-REC loans can be recalled if discoms don’t shape up: Power Minister RK Singh

Non-compliant state-run electricity distribution companies (discoms) risk losing a lot of the Rs 90,000 crore credit that the legislature reported on Wednesday to infuse liquidity into the fragment. On the off chance that discoms don’t find a way to decrease their misfortunes, they would be denied the office, Union influence serve RK Singh said on Thursday.

The advances from division explicit banks REC and PFC will be made accessible “only if the discom concerned draws up a loss-reduction trajectory and gets it approved by the state government,” Singh stated, adding that “if those steps are not complied with, the state-run lenders would have the freedom to recall the loans”.

Source: Financial Express