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Modi Govt s Rs 90,000 Crore Financial Package Reduces Bad Loans In Power Sector, Prevents NPAs

Modi Govt s Rs 90,000 Crore Financial Package Reduces Bad Loans In Power Sector, Prevents NPAs Power distribution lines. Amidst the Covid-19 pandemic, the central government released a Rs 90,000-crore financial package for the benefit of power distribution companies (discom) across the country. Reflecting on the advantages of the same, IDBI Bank deputy MD Samuel Joseph Jebaraj told TOI, “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.” Apparently, these firms were not repaying their debts in time and were hence categorised as special mention account (SMA).

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