This government company distributed loans worth Rs 30.63 lakh every hour, created a unique record. REC Limited government company distributed

Government company REC has distributed loans of Rs 1.61 lakh crore last financial year.

A government company has set an amazing record of loan approval as well as distribution. This government company has distributed loans worth Rs 30.643 lakh every hour in the last financial year. Which is a record in itself. These loans have been given and distributed to boost the renewable energy sector. The name of this company is Rural Electrification Corporation Limited, which is also known as IC. This is also an ABFC company. Let us also tell you what kind of information the company has given to the stock market.

Record loan approved

Public sector company REC Limited has approved a record loan of Rs 3.59 lakh crore during the last financial year 2023-24. This is 33.66 percent more on annual basis. While giving this information to the stock market, the company said that a loan of Rs 2.68 lakh crore was approved in the financial year 2022-23. Out of the total loan of Rs 3.59 lakh crore, Rs 1.36 lakh crore was approved for the renewable energy sector. This is more than the loan of Rs 21,371 crore sanctioned for green greenhouse projects last year. The NBFC under the Ministry of Power said that REC Ltd. has continued its growth journey. The company approved a loan of Rs 3.59 lakh crore during the year 2023-24, which is the highest till date.

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This much debt is distributed every hour

According to the information given by the company, a record loan of Rs 1.61 lakh crore has been distributed. With this, the company continues to perform strongly at the operational level. This means that the company has distributed loans worth Rs 33.63 lakh every hour in the last financial year. In the financial year 2023-24, loan distribution was 66.72 percent more as compared to the previous financial year. Loan disbursement in the financial year 2022-23 was Rs 96,846 crore. According to the information, as of March 31, 2024, the total debt of the company was Rs 5.09 lakh crore. This is 17.13 percent more than Rs 4.35 lakh crore for the financial year 2022-23.

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Brijesh Pratap
Brijesh Pratap

Hi, I am Brijesh Pratap, a content creator and WordPress website designer, I have been in content writing for more than 3 years. I specialize in creating engaging articles. As a WordPress expert, I design websites for businesses and bloggers, aiming for both visual appeal and impactful content. Join me on this journey of creative exploration and effective online solutions.

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