Latest News | REC Board Okays Rs 1.2 Lakh Cr Market Borrowing Programme for 2023-24

New Delhi, Mar 9 (PTI) State-owned non-banking finance firm REC Ltd board on Thursday approved Rs 1,20,000 crore market borrowing programme for 2023-24 in its meeting.

"Board of Directors of REC Ltd in its meeting held on March 9, 2023, inter-alia approved the market borrowing programme under different debt instruments for the financial year 2023-24," a BSE filing stated.

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REC will borrow Rs 1,20,000 crore from the market during 2023-24, which includes various types of bonds and loans (Rs 1,05,000 crore), short-term loans (Rs 10,000 crore) and commercial papers (Rs 5,000 crore), it added.

The proposed borrowing programme for the financial year 2023-24 will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, it stated.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)