State-owned REC (Rural Electrification Corporation) has recorded a significant increase in loan sanctions, reaching Rs 3.59 trillion in the fiscal year 2023-24, up by 33.66% from the previous year. Of this total, Rs 1.36 trillion were allocated to renewable energy projects, marking a substantial rise compared to the previous year. REC also reported its highest-ever loan disbursements at Rs 1.61 trillion during the same period. As of March 31, 2024, the company’s loan book stood at Rs 5.09 trillion, reflecting a 17.13% increase from the previous fiscal year. REC, a non-banking finance company under the Ministry of Power, focuses on financing projects in the power sector in India.
REC Achieves Record Loan Sanctions of Rs 3.59 Trillion in FY23-24
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