The minister has discussed the matter with FIs to lend to power projects at the rate of 14.5 per cent, the same rate at which the PFC lends. "FIs should follow the same course as PFC", he added.
The minister said that at present the interest rates on loans to power projects (old projects) vary depending on the then prime lending rates of these institutions, which were at 15-18 per cent.
On this disparity on the interest rates "I have indicated my mind that this should change. I have already taken it up, but it has to be seen as to how we change the interest levied on the old loans", he added.
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