Centres financial package for TNEB
Posted on: 29/May/2013 12:47:10 PM
The TNEB (Tamil Nadu Electricity Board) has zeroed in on a financial restructuring plan to overcome losses that it has incurred through Discom, the power distribution company. The centre has come up with a scheme to help out financially backward electricity boards in the country. According to Union Power Ministry Jyotiraditya Scindia, Tamil Nadu is the only state which is close to finalising the central package.
The loan will be given to the State from a consortium of banks that will be led by the State Bank of India. "The Centre had requested 100% funding of the cash loss the state power utility suffered in the first financial year (2012-13 ) and accordingly the bank is reworking a restructuring plan to meet the government demand," said Shyamlal Acharya, SBI`s Deputy Managing Director.
