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What is Rural Electrification Corporation Limited mean?
REC Limited, formerly Rural Electrification Corporation Limited, is a public Infrastructure Finance Company in India’s power sector. The company is a Public Sector Undertaking and finances and promotes power projects across India. The company provides loans to Central/State Sector Power Utilities in the country, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers.
On 7 December 2018, the Cabinet Committee of Economic Affairs gave its in-principle approval for the sale of 52.63% REC to the state-owned Power Finance Corporation (PFC). On 20 March 2019, PFC signed the agreement to acquire a 52.63% controlling stake in REC for ₹14,500 crore (US$1.9 billion). On 28 March, PFC announced that it had completed making the payment for the acquisition and intended to merge REC with itself in 2020.
reference| Full Form | Category |
|---|---|
| Rajasthan Explosives and Chemical Limited | Academic & Science |
| Rural Electrification Corporation, LTD. | Business |
| Rural Electrification Corp Ltd | Business |
| Ron Eastern Construction Ltd | General |
| Rural Electrification Corporation Limited | Navratna Central Public Sector Enterprise |
Posted on 24 Oct 2024, this text provides information on Miscellaneous in Navratna Central Public Sector Enterprise related to Navratna Central Public Sector Enterprise. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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