We plan to disburse Rs 75,000 crore worth of loan next fiscal: REC CMD P V Ramesh

We plan to disburse Rs 75,000 crore worth of loan next fiscal: REC CMD P V Ramesh

Rural Electrification has never been more in focus with the Modi government having intensified efforts at ensuring Power for All by 2020. State-run financier REC wants to utilize this opportunity to expand growth areas into non-traditional business segments, Chairman and Managing Director P V Ramesh told ETEnergyWorld in an exclusive interview. Edited excerpts..

Leaving No Stone Unturned: Goyal Announces New Scheme To Provide Electricity Connections For APL Families

The soft loans for APL and BPL connections will be over and above the ongoing loans that have been extended by the Centre under various ongoing RE schemes. This new additional loan by REC can be paid back by the states over 10-15 years and will be given at low interest rates, Union minister of state for power. From Consumers also, the same loan can be recovered over a long spread of time.

Leaving No Stone Unturned: Goyal Announces New Scheme To Provide Electricity Connections For APL Families

Rural Electrification Corporation (REC) is in the process of drawing up a scheme for extending long term basis soft loans to the States at a flat rate to achieve 100% household electrification across the States for both APL (Above the Poverty Line) & BPL (Below the Poverty Line) population.

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