REC recorded its highest-ever quarterly disbursements and sanctions during Q3 (October to December) of FY24.
In Q3 of FY24, REC recorded overall sanctions of Rs.1,32,049 crore, while disbursements stood at Rs.46,358 crore. Both these were the highest quarterly levels ever, an REC presentation said.
Significantly, REC’s disbursements to the power distribution sector more than doubled in the first nine months of FY24.
Presented here are highlights of REC’s lending performance, with respect to the power T&D sector:
- During Q3 of FY24, REC’s sanctions to the power transmission sector stood at Rs.5,261 crore, up 90 per cent from Rs.2,768 crore in Q3 of FY23.
- Disbursements to the power transmission sector nearly trebled from Rs.582 crore in Q3 of FY23 to Rs.1,681 crore in Q3 of FY24.
- In the first nine months of FY24 (April to December), sanctions to the power transmission sector were Rs.19,090 crore, exceeding the level seen in the entire of FY23.
- Disbursements for power transmission stood at Rs.4,649 crore in the first nine months of FY24, surpassing the Rs.3,050 crore seen in whole of FY23.
- Sanctions to the power distribution sector during Q3 of FY24 fell by 3.9 per cent whereas disbursements were 9.1 per cent higher by the same comparison.
- Despite a fall in Q3 of FY24, disbursements to power distribution in the first nine months of FY24 more than doubled to reach Rs.65,302 crore from Rs.29,664 crore in the same period of FY23
- In the April-December period of FY24, the power T&D sector accounted for a 57.3 per cent share in the aggregate disbursements made by REC. The corresponding share with respect to sanctions was 27 per cent.
- As of December 31, 2023, REC had a total loan book of Rs.4,97,466 crore. Of this, power distribution had the single largest share of 43 per cent while power transmission accounted for nearly 10 per cent.
It may be noted that REC is the nodal agency for several Central flagship programmes in the power distribution sector such as Saubhagya, DDUGJY (Deen Dayal Upadhyaya Gram Jyoti Yojana) and the more recent Revamped Distribution Sector Scheme (RDSS).
