A recent press report said that State-run power utility major NTPC Friday has entered into an agreement with the State Bank of India (SBI) for a loan of Rs. 10,000 crore for its capacity expansion plans.
Reports said that NTPC has signed the loan (agreement) to carry out its capacity expansion plans and to finance the capital expenditure of its ongoing project.
Reports added saying that Rupee term loan has a door to door maturity of 12 years with a draw down period of 4 years.
NTPC, India’s largest power company, was set up in 1975 to accelerate power development in India. It is emerging as an ‘Integrated Power Major’, with a significant presence in the entire value chain of power generation business.
NTPC ranked 341st in the ‘2010, Forbes Global 2000’ ranking of the World’s biggest companies; with a current generating capacity of 34,854 MW, NTPC has embarked on plans to become a 75,000 MW company by 2017.
SBI one of the largest Indian banking and financial services company is aggressively occupied in Community Services Banking; it is also involved in offering Educational loan to students in order to pursue education in India or aboard. The bank also provides a variety of services including SBI Internet banking, SBI Life Insurance, SBI Personal Loan, SBI Home Loan, SBI Auto loan, loan against mortgage of property etc.