REC board approves overall borrowing of Rs 1.6 lakh crore for 2024-25

New Delhi: REC Limited on Wednesday said its board has approved an overall borrowing limit of Rs 1,60,000 crore for 2024-25.

The board in its meeting held on Wednesday approved a borrowing limit of Rs 1.6 lakh crore, including Rs 1,45,000 bonds and term loans, Rs 5000 crore of short-term loans and Rs 10,000 crore of commercial papers, REC said in a filing.

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Funds under the proposed borrowing programme for 2024-25 shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, with the approval of Competent Authority, the filing stated.

The Board has approved the amendment in 'Policy on Criteria for determining Materiality of Events or Information for disclosure to Stock Exchanges.'

REC, a non-banking finance company, provides financing to power infrastructure projects in the country. It meets the funding requirements through borrowings.

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