Question : Central government-owned non-banking financial companies, Power Finance Corporation and REC Ltd. have reduced their lending rates by how many Bps on all types of loans ?
a. 40 Bps
b. 30 Bps
c. 25 Bps
d. 18 Bps
Ans. a.
Related facts —
- State-owned NBFCs, PFC and REC have recently(January 2022) further reduced their lending rates across all types of loans by 40 Bps.
- It is notable that 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 benefitting the consumer by way of reliable and cheap power.
- In the last about one year, PFC and REC have reduced lending rates cumulatively by upto 3%.
- 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%.
By – Pankaj Pandey