According to the Reserve Bank of India (RBI), Real Estate Development Corporation of India (REC), a public sector Maharatna company, has crossed ₹1 lakh crore in loan disbursements during April-November of the current financial year. This is the first time in any year that REC’s loan has crossed ₹1 lakh crore. The figure stood at ₹46,075 crore in the same period a year ago.
- REC disbursed loans worth ₹1,00,276 crore during April-November of the current financial year.
- This is REC’s highest loan disbursement in any year.
- REC has given a return of 160% in 6 months.
The increase in REC’s loan disbursement is due to several factors, including rising demand, strong economic activity, and supportive government policies.
REC is a major lender to India’s largest power producers and distribution companies. The company provides loans for power generation, transmission, and infrastructure development.
Increased REC loan disbursements will boost India’s economy. The company’s loans will increase power generation and distribution, which will boost economic activity.
REC’s increasing loan disbursements are a positive sign for the Indian economy. It indicates that India’s economy is strengthening and investor confidence is growing.