State-owned non-banking finance firm REC Ltd board on Thursday approved ₹1,20,000 crore market borrowing programme for 2023-24 in its meeting.
"Board of Directors of REC Ltd in its meeting held on March 9, 2023, inter-alia approved the market borrowing programme under different debt instruments for the financial year 2023-24," a BSE filing stated.
REC will borrow ₹1,20,000 crore from the market during 2023-24, which includes various types of bonds and loans (₹1,05,000 crore), short-term loans (₹10,000 crore) and commercial papers (₹5,000 crore), it added.
The proposed borrowing programme for the financial year 2023-24 will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, it stated.