Business Update8 Apr 2024, 04:35 pm
REC Ltd posts highest ever loan sanctions and disbursements of ₹3.58 lakh crore and ₹1.61 lakh crore respectively in FY2023-24
AI Summary
REC Ltd reported a growth of 33.66% in loan sanctions and 66.72% in loan disbursements compared to the previous fiscal year. Renewable Energy sanctions surged by 538.79% to ₹1.37 lakh crore, and the loan book grew by 17.13% to ₹5.09 lakh crore. The financials are provisional and subject to audit.
Key Highlights
- REC Ltd reported the highest ever loan sanctions of ₹3.58 lakh crore, a growth of 33.66% from the previous fiscal year
- Highest ever loan disbursements of ₹1.61 lakh crore, a growth of 66.72%
- Renewable Energy sanctions increased by 538.79% to ₹1.37 lakh crore
- Loan book rose by 17.13% to ₹5.09 lakh crore
- Processed ₹3.588 lakh crore worth of loan applications in FY2023-24