REC Expects 18-20% Loan Book Growth In FY18 

Rural Electrification Corporation Ltd. expects a growth of around 18 to 20 percent in its loan book for the current financial year, PV Ramesh, chairman and managing director of the public infrastructure finance company told BloombergQuint.

The company has the lowest proportion of stressed assets among all non-banking finance companies and lenders, he said, adding that 86 percent of their loan book is exposed to the government sector, while the rest to the private sector.

Prasad said the company has been mandated by the government to electrify 4.2 crore households in the next 400 days as part of the recently launched Saubhagya Scheme. “It would mean that REC has to work at the rate of one lakh households a day.”

Watch the full interview here:

Also Read: Government Permits Banks To Sell More Small Savings Schemes