Powergrid board approves proposal to raise Rs 4,000 cr from SBI

New Delhi: State-owned Power Grid Corporation of India on Thursday said its board has approved a proposal to raise up to Rs 4,000 crore from public lender State Bank of India (SBI).

"The Board of Directors...considered and approved the raising of funds through unsecured rupee term loan/ line of credit (bank facility) of up to Rs 4,000 crore from State Bank of India," the company informed exchanges.

Under the Ministry of Power, Power Grid Corporation of India (Powergrid) is India's largest electric power transmission utility.