Scindia meets bankers; discusses lending issues in Power sector

Scindia meets bankers; discusses lending issues in Power sector New Delhi: Power Minister Jyotiraditya Scindia on Friday met bankers and heads of financial institutions to iron out the problems faced by them while lending to the sector.

"Bankers raised problems faced while lending to power sector projects... Fuel availability and environment hurdles are also matters of concern," he told reporters after an hour long meeting with the bankers here.

The meeting was attended by representatives from PSU banks and lending institutions, including Punjab National Bank, Central Bank, PFC and REC.

The Power Ministry, which has hired ICRA for providing rating to the distribution companies, will work towards implementing this system at the earliest.

"The rating system for distribution companies to be implemented from April 1. CARE and ICRA will work on rating discoms," he said adding that the lending to (discoms) be based on ranks given by the agencies.

On the tariff issue, Scindia said regular tariff revision is essential not just to ease lending but also to boost private sector investment.

PTI