(Bloomberg) — India may unwind a four-year-old decision to combine two state-run lenders as it seeks to sidestep local rules that restrict them from funding power projects in one of the world’s fastest-growing energy markets.
The government is discussing a plan for state-run Power Finance Corp. to sell its controlling stake in REC Ltd. to transmission utility Power Grid Corp., which is flush with cash, Raj Kumar Singh, the nation’s power minister, said in an interview in New Delhi. Power Finance and REC will enjoy their different exposure limits as separate companies, potentially resulting in greater project funding, he said.…
