Business Line reported that Power Finance Corporation Ltd has disbursed INR 7,400 crore of transitional loan to 5 financially ailing State Electricity Distribution Utilities.
They include Punjab, Haryana, Uttar Pradesh, Rajasthan and Tamil Nadu.
Mr Satnam Singh chairman of PFC said that PFC has given 3 years moratorium on interest payment and another 7 years to repay the loans.
Mr Singh said that as and when the discoms achieve milestones, more funds would be disbursed. PFC has sanctioned INR 16,000 crore for the discoms.
Source:
http://www.steelguru.com/indian_news/PFC_disburses_INR_7400_crore_to_sick_discoms/295081.html
