NTPC signs term loan of Rs 5000 crore with SBI
The largest power company of India, National Thermal Power Corporation (NTPC) Limited has signed a term loan agreement of Rs 5000 crore with the country’s largest lender, the State Bank of India(SBI). The loan will be utilized to part finance the capital expenditure of NTPC and has a door to door tenure of 15 years.
The Loan facility is extended at an interest rate linked to the bank’s 3 months Marginal Cost of Funds based Lending Rate (MCLR).
NTPC was founded on 7th November 1975 by the Government of India, which now holds 54.74 percent of its equity share. In May 2010, Maharatna status was conferred to NTPC by the Government of India. It is the largest electric power generating company in India with a power capacity of 57,356 MW.
Category: Economy & Banking Current Affairs