RECL meaning in Navratna Central Public Sector Enterprise ?
Answer: 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 |
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