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(Representative image) MUMBAI: The government’s Atmanirbhar measures to help businesses hit by the pandemic has addressed a historic problem of power companies, and the banks that lend to them. Following the pandemic, the government allocated a Rs 90,000-crore financial package to assist power distribution companies (discoms) across the country. The funding was to be provided through state-owned financiers Power Finance Corporation and Rural Electrification Corporation. “Stressed discoms had availed the loans provided by government power financiers and cleared dues to power-generating companies. And the generating companies, in turn, have cleared dues to lenders,” said IDBI Bank deputy MD Samuel Joseph Jebaraj. He added that these were companies that were perennially classified as an SMA (special mention account a term for companies that do not repay in time), and lenders were worried that they would slip into the NPA (non-performing asset) category.

Uttar pradeshSamuel joseph jebarajPower finance corporationRural electrification corporationUttar pradesh power corporationRural electrificationPradesh power corporationஉத்தர் பிரதேஷ்பவர் நிதி நிறுவனம்கிராமப்புற மின்மயமாக்கல் நிறுவனம்உத்தர் பிரதேஷ் பவர் நிறுவனம்கிராமப்புற மின்மயமாக்கல்பிரதேஷ் பவர் நிறுவனம்