Punjab Newsline, Chandigarh, March 5 -
Haryana Cabinet which met under the chairmanship of Chief Minister, Sh. Manohar Lal here today, accorded ex-post facto approval to a proposal for providing State Government Guarantee of Rs. 500 crore in favour of Punjab National Bank, against the sanctioned Capex loan of Rs. 500 crore to Uttar Haryana Bijli Vitran Nigam Ltd. for meeting the Capital expenditure.
The Nigam manages its day-to-day operations by using fund-based and non-fund-based working capital limits sanctioned by various banks. To meet the fund based requirements, UHBVN had requested the bank to sanction the Capex loan of Rs. 500 crore. The Punjab National Bank has considered the Nigams request and sanctioned a Capex Loan of Rs. 500 crore.