REC sanctions Rs 220 bn to help discoms clear their dues

10 Aug 2022 CW Team

State-owned non-banking finance company REC Ltd has sanctioned Rs 220 billion to power distribution companies (discoms) to clear their outstanding dues. The financial assistance has been provided to discoms of Jharkhand, Rajasthan, Chhattisgarh and Jammu & Kashmir under the government's Late Payment Surcharge and Related Matters Rules 2022 (LPS rules).

The Ministry of Power had brought in the electricity LPS rules 2022 to address mounting dues of the state power utilities, which have now crossed Rs 1.50 trillion, REC, formerly Rural Electrification Corporation Ltd, said in a statement.

Major states such as Rajasthan, Jharkhand, Tamil Nadu, Maharashtra, J&K, Madhya Pradesh and Uttar Pradesh, with pending power purchase dues to the tune of almost Rs 960 billion, are complying with the rules. The distribution licensees of these states will be paying around Rs 26 billion to their electricity suppliers on August 5, 2022.

According to REC, the new rules will be applicable to outstanding dues of generating companies, inter-state transmission licensees, and electricity trading licensees (suppliers).

As per the rules, the total outstanding dues, including late payment surcharge, by a distribution licensee may be cleared in a maximum of 48 equated monthly instalments (EMIs).

REC Ltd, under the Power Ministry, focuses on power sector financing and development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.

Infrastructure Urban

16 Oct 2025

Shivraj Singh Chouhan inaugurates ICAR-IIMR admin block in Ludhiana

Union Agriculture Minister Shri Shivraj Singh Chouhan recently inaugurated the administrative building at the Indian Council of Agricultural Research – Indian Institute of Maize Research (ICAR-IIMR) in Ludhiana, Punjab. During the visit, he interacted with maize stakeholders, farmers, rural development scheme beneficiaries, and women self-help group (SHG) members. He said that under the leadership of Prime Minister Narendra Modi, the government’s key goals include boosting foodgrain production, reducing input costs, and improving farmers’ incomes. He highlighted the importance of div..

Google to Build Rs 10,000 Cr Data Centre in Visakhapatnam

In a major boost to India’s digital infrastructure, Google will establish a 1-GW hyperscale data centre and Artificial Intelligence (AI) hub in Visakhapatnam, Andhra Pradesh. The project, valued at Rs 100 billion, is expected to significantly contribute to the state’s economy and create more than 20,000 direct and indirect employment opportunities. Union Minister of State for External Affairs and Education, Dr Pemmasani Chandrasekhar, highlighted that this landmark investment by Google will help position Andhra Pradesh as a prominent digital hub under the “Swarandhra Pradesh” vision. ..

TCIL honoured with HR Excellence Award 2025

Telecommunications Consultants India Limited (TCIL), a Miniratna Schedule ‘A’ PSU under the Department of Telecommunications, has been honoured with the HR Excellence Award at the Fortune Leadership Awards 2025, held at Radisson Blu Plaza, Delhi. The accolade acknowledges TCIL’s outstanding HR practices promoting employee development, innovation, and inclusivity. The award was presented by Dr. Dinesh Upadhyay, Former Member, Ministry of AYUSH, and Shri M. S. Nethrapal, IRS, and received by Shri P. Suresh Babu, CGM (HR), in the presence of distinguished leaders from various sectors. Bet..