Four of the loans are in the advanced stage of completing formalities, and the first tranche of disbursements is expected to take place in the next 10 days.
Power Finance Corporation (PFC) and REC have seen interest for loans worth about Rs 93,000 crore from power distribution companies (discoms) under the Atmanirbhar Bharat liquidity infusion package.
Requests have come in from companies in states such as Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, where discoms owe high outstanding amounts to power units, The Economic Times reported.
Moneycontrol could not independently verify the story.
Four of the loans are in the advanced stage of completing formalities, and the first tranche of disbursements is expected to take place in the next 10 days, The Economic Times reported.
"Andhra Pradesh discoms have submitted loan applications for Rs 6,600 crore," a government official told the publication.
"All formalities including submitting state government guarantee have been completed. The sanction is under process. Maharashtra’s Rs 5,000 crore application is under sanction. All formalities including state guarantee are done," the official added.
Maharashtra discoms have applied for loans worth Rs 5,000 crore, while Punjab and Rajasthan have sought loans worth around Rs 4,000 crore each.
Tamil Nadu, Bihar and Odisha have sought exemption from working capital limits, the report said.WEBINAR: Tune in to find out how term insurance can provide risk protection during tough times. Register Now!
