<p>As much as Rs 1.08 lakh crore worth of loans under the liquidity package for stressed power distribution utilities have been sanctioned so far, REC said on Saturday.</p>.<p>In May, Finance Minister Nirmala Sitharaman announced Rs 90,000 crore liquidity infusion into cash-strapped discoms, facing demand slump due to the lockdown to contain Covid-19.</p>.<p>This package was later increased to Rs 1.2 lakh crore by the Ministry of Power. </p>.<p>"Till date, REC and PFC (Power Finance Corporation) have sanctioned Rs 1.08 lakh crore and released nearly Rs 30,000 crore to discoms under the scheme," REC said in a statement.</p>.<p>The loans under the package will be co-funded by PFC and REC in equal proportion. The loans would be sanctioned in two equal tranches.</p>.<p>REC also said it has sanctioned Rs 2,790 crore to Jammu Kashmir Power Corporation Ltd (JKPCL) under the scheme.</p>.<p>The agreement was signed between the Government of Jammu & Kashmir, JKPCL, REC and PFC.</p>.<p>Under the liquidity infusion scheme of the Centre, REC and PFC are extending financial assistance at a concessional rate of interest, it added.</p>
<p>As much as Rs 1.08 lakh crore worth of loans under the liquidity package for stressed power distribution utilities have been sanctioned so far, REC said on Saturday.</p>.<p>In May, Finance Minister Nirmala Sitharaman announced Rs 90,000 crore liquidity infusion into cash-strapped discoms, facing demand slump due to the lockdown to contain Covid-19.</p>.<p>This package was later increased to Rs 1.2 lakh crore by the Ministry of Power. </p>.<p>"Till date, REC and PFC (Power Finance Corporation) have sanctioned Rs 1.08 lakh crore and released nearly Rs 30,000 crore to discoms under the scheme," REC said in a statement.</p>.<p>The loans under the package will be co-funded by PFC and REC in equal proportion. The loans would be sanctioned in two equal tranches.</p>.<p>REC also said it has sanctioned Rs 2,790 crore to Jammu Kashmir Power Corporation Ltd (JKPCL) under the scheme.</p>.<p>The agreement was signed between the Government of Jammu & Kashmir, JKPCL, REC and PFC.</p>.<p>Under the liquidity infusion scheme of the Centre, REC and PFC are extending financial assistance at a concessional rate of interest, it added.</p>