Maharashtra utilities are REC’s biggest borrowers, with Maharashtra State Power Distribution Company and Maharashtra State Electricity Distribution Company between them owing Rs 23, 441 crore, or 11.28 per cent of loan book, to the state-owned non-banking finance company.
REC has fairly spread its loan exposure to avoid concentration of risks to a few borrowers. Some 10 state-owned utilities account for nearly 37 per cent of total loan amount owed to the company as at the end of June. Moreover, no single borrower accounts for more than 7 per cent of REC’s loan book.
State-owned Rural Electrification Corporation (REC) has appointed a consultant to review its business procedures and flag inadequacies and weaknesses therein, company chairman PV Ramesh said on Friday.
As many as 3,285 inaccessible villages have been electrified in various States across the country under Decentralized Distributed Generation Scheme, minister Piyush Goyal said.
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal, in a written reply to a question in Rajya Sabha on Monday informed that as per information provided by the States, 13,872 un-electrified census villages have been reported to be electrified up to 30th June, 2017, out of 18,452 un-electrified villages in the country as on 1st April, 2015.
After Gujarat and Andhra Pradesh, Kerala is readying to enter the select club of fully-electrified states. Each and every household in Kerala will have electricity by the end of May, state electricity minister M M Mani said here on Friday.
Operational performance of state power distribution companies has improved with a decline in commercial losses of electricity and marginally better coverage of costs in fiscal 2016, a report by the Power Finance Corp (PFC) said.