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Power Min begins process to set up Rs 2,000 cr JV for rollout of smart metres

The Power Ministry has begun the process to set up a Rs 2,000 crore joint venture for providing a common backend infrastructure facility (CBIF) to power distribution companies (discoms) for faster roll-out of smart electricity metres in the country. The joint venture would have four promoters, NTPC Ltd, REC Ltd, Power Grid Corporation of India Ltd (PGCIL) and Power Finance Corporation (PFC). These firms are under the administrative control of the Ministry of Power.The boards of PFC and REC have approved equity investment of Rs 150 crore each in the joint venture for the CBIF, according to regulatory filings.In a BSE filing, the PFC stated, "The Board of Directors in its meeting held on 14th September, 2020 has accorded its approval for infu.....

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