REC takeover to up PFC’s leverage by Rs 15,000 cr: Ind-Ra

REC takeover to up PFC’s leverage by Rs 15,000 cr: Ind-Ra

The proposed takeover of the government’s 52.63 per cent stake in Rural Electrification Corporation (REC) by Power Finance Corporation (PFC) is likely to stretch latter’s balance sheet and increase its leverage by up to Rs 15,000 crore, India Ratings said Tuesday.

Power min to hold SOS meeting to save stressed plants

Power min to hold SOS meeting to save stressed plants

Union power secretary Ajay Kumar Bhalla has convened a meeting with banks, state undertakings, including Power Finance Corporation and Rural Electrification Corporation, and oganisations representing power generating companies on August 17 to discuss options to address issues faced by stressed power projects.

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