Is it the fatigue of being in the business of connecting thousands of villages with electricity for almost five decades? Or is it that banking is oh so sexy? Talk to PV Ramesh of Rural Electrification Corporation
Rural Electrification Corporation has been in the business of funding generation, transmission and distribution projects as well as spearheading government’s power sector initiatives in the rural areas for almost five decades.
Is it the fatigue of being in the business of connecting thousands of villages with electricity for almost five decades? Or is it that banking is oh so sexy? Talk to PV Ramesh of Rural Electrification Corporation.
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.
The Rural Electrification Corporation (REC) management spoke to CNBC-TV18 from London on the listing of the company’s Green Bond Issuance.
State-run Rural Electrification Corp (REC) is looking at diversifying from power sector lending to financing equipment manufacturing, energy efficiency schemes, power plants renovation and coal blocks development, chairman PV Ramesh told ET in an exclusive interview. Ramesh said the company is even considering changing its name to suit its diversification plans. He said the company […]
India will achieve its ambitious target of lighting the homes in all its villages by 2018, although continuous supply of power