Govt Weighs Indexing Rupee Debt With Global Currencies: Goyal

Posted By: Religare
Subscribe to GoodReturns

Coal and Power Minister Piyush Goyal said the government is considering permitting power firms to index rupee debt with global currencies to attract cheap loans from foreign banks, said the media reports.

Govt weighs indexing rupee debt with global currencies: Goyal
"Some Japanese companies have also indicated that they would be interested in financing UMPPs if we could have some portion of tariff indexed to a basket of currencies or a particular currency, which could mean much larger financing from international sources at a lower rate of interest with longer tenure and cheaper power," the minister said.

"Anything which helps me reduce power tariff, I am willing to consider."

He was speaking to reporters here in Tokyo on the sidelines of the 8th India Japan strategic energy dialogue.

The minister, during his meeting with Japanese financial institutions and banks, asked them to co-finance Indian power projects with the Power Finance Corporation (PFC) and REC.

Read more about: dollar, debt
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns