India's PFC and REC are both tapping the deep, discount bond market for funding. PFC is aiming for ₹20 billion, following a failed attempt in April, while REC has received approval for another ₹50 billion raise, demonstrating renewed investor interest.

• PFC's bond offer is smaller due to the past weak demand.
• REC successfully raised ₹50B via ZCB in September '24.
• Deep discount bonds offer returns via redemption at face value.