NTPC infuses Rs 2000 crore as short term loan in Canara Bank

One of India’s largest state-run power utility company, NTPC on Friday has announced that it has agreed to infuse Rs 2,000 crore in Canara Bank.

In a statement issued on Friday, NPTC said that “The company has signed a term loan agreement of Rs 2,000 crore with the Canara Bank. The loan facility extended at an interest rate linked to 3-month MCLR of the bank.”

Adding to this statement the company said that “The loan has a door tenure of 15 years and will be utilized to part finance the capital expenditures of the NTPC.”