EID-Parry Limited

April 4, 1970 a reference to advances to State Electricity Boards for the energisation of wells in the rural areas. In my view, there is no justification in relaxing the usual test of viability even in such cases. With the establishment of the Rural Electrification Corporation, the scope for commercial banks for granting direct finance for rural electrification has narrowed down and it is desirable that assistance is provided by way of investment in the bonds of the Corporation; assistance could, of course, be granted to the Boards by way of short- term loans to meet their interim requirements pending release of loans by the Rural Electrification Corporation.