How does REC propose to fund its massive borrowing program this year?
Answer
Answer
The board of state-run REC approved raising Rs.85,000 crore via debt in FY23. Rs.75,000 crore will be via long-term debt, Rs.5,000 crore via short-term loans and Rs.5,000 crore via Commercial Paper (CPs). Long term funds will be raised via bonds, term loans, ECBs etc. Short-term loans will be raised from banks and NBFCs. REC needs to continuously raise funds for on-lending.