Latest NewsNews SnippetsPower

REC, Punjab National Bank to Finance 55,000 Cr. in Logistics, Power and Infra Sectors

Rural Electrification Corporation Limited (REC Ltd.) has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to jointly finance Rs. 55,000 crore for projects in logistics, power and infrastructure sectors in India. This information was shared by REC Ltd. in its press release dated 26th September 2023.

As per the agreement, REC and PNB will co-finance loans to projects in logistics, power, and infrastructure sectors over the next three years. REC has a loan book of over Rs. 4,54,393 crore.