{"id":16609,"date":"2022-01-19T11:18:38","date_gmt":"2022-01-19T05:48:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-pfc-rec-lending-rate-cut\/"},"modified":"2022-01-19T11:52:11","modified_gmt":"2022-01-19T06:22:11","slug":"biz-pfc-rec-lending-rate-cut","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-pfc-rec-lending-rate-cut\/","title":{"rendered":"Power Finance Corp, REC reduce lending rates by 40 bps"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4169324953\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 19 (PTI) State-run non-banking financial firms &#8212; Power Finance Corporation (PFC) and REC Ltd &#8212; have reduced their lending rates across all types of loans by 40 basis points.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2206972614\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said.<\/p>\n<p> The reduction in rates has been possible due to lower cost of borrowings by these organisations. It is pertinent to note that PFC and REC are already providing short-term loans at interest rates as low as 6.25 per cent, the ministry said.<\/p>\n<p> According to the statement, Union Minister for Power and New &#038; Renewable Energy R K Singh expressed satisfaction at the continued efforts by both companies to reduce rates and remain competitive.<\/p><div class=\"trade-content_5\" id=\"trade-3102416604\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Singh said continued reduction of lending rates by REC and PFC will help power utilities to borrow at competitive rates and invest in improving the power sector infrastructure, thereby benefiting the consumer by way of reliable and cheap power.<\/p>\n<p> In the last about one year, both the organisations have reduced lending rates cumulatively by up to 3 per cent.<\/p>\n<p> In order to give a boost to renewable energy, where long-term funding is required, the rates have been revised to as low as 8.25 per cent, it informed. PTI KKS  DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2234866027\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 19 (PTI) State-run non-banking financial firms &#8212; Power Finance Corporation (PFC) and REC Ltd &#8212; have reduced their lending rates across all types of loans by 40 basis points. PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-16609","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Power Finance Corp, REC reduce lending rates by 40 bps - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-pfc-rec-lending-rate-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power Finance Corp, REC reduce lending rates by 40 bps\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 19 (PTI) State-run non-banking financial firms &#8212; Power Finance Corporation (PFC) and REC Ltd &#8212; have reduced their lending rates across all types of loans by 40 basis points. PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said. 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PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said. 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