REC board okays proposal to increase borrowing to Rs 1.5 lakh cr for FY'24
PW
India
01-12-2023
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New Delhi: According to REC Limited's regulatory filing to the stock exchanges on Thursday, the Board of Directors has approved a proposal to increase borrowing to Rs 1.5 lakh crore from Rs 1.2 lakh crore for 2023–2024.
The regulatory filing stated that the REC Board of Directors revised its market borrowing programme from Rs 1,20,000 crore to Rs 1,50,000 crore for 2023–2024 during a meeting on Thursday. The revision included interchangeability among various instruments, such as bonds/debentures, term loans, external commercial borrowing, commercial papers, etc. on a private/public placement basis.
It further stated that, in accordance with the authority granted in this regard by the Board of Directors, funds under the aforementioned revised market borrowing programme will be raised periodically during the fiscal year 2023–2024 with the consent of appropriate authorities.