REC accorded with 'Maharatna' company status

REC accorded with 'Maharatna' company status

Daily Current Affairs   /   REC accorded with 'Maharatna' company status

Change Language English Hindi

Category : Business and economics Published on: September 26 2022

Share on facebook
  • REC Ltd has been accorded the status of a 'Maharatna' central public sector enterprise (CPSE).
  • Incorporated in 1969, REC is a non-banking finance company (NBFC), focussing on power sector financing and development across India. It comes under the aegis of Power Ministry.
  • REC is the 12th company to secure Maharatna status.
  • The grant of Maharatna status to REC will give the company's board greater powers in making financial decisions.
  • The PSU is currently playing the role of nodal agency for Revamped Distribution Sector Scheme (RDSS), for revamping the distribution sector to alleviate the financial and operational issues.
Recent Post's
  • NHB launched Gruh Sugam Portal on March 26, 2026 to provide easy online home loans to defence, paramilitary and government personnel without visiting banks.

    Read More....
  • The US Treasury announced new currency notes bearing President Donald Trump’s signature will be introduced from June 2026, the first time a sitting president’s signature appears on American money.

    Read More....
  • DPIIT signed an MoU with KRAFTON India to boost startups in online gaming, esports, digital entertainment and AI technologies through mentorship, hackathons and innovation challenges.

    Read More....
  • Former Google executive Matt Brittin was appointed as the new Director-General of BBC, effective from May 18, 2026.

    Read More....
  • The Rajasthan government launched the Industrial Park Promotion Policy 2026 to attract investment, create jobs and develop world-class industrial parks with green incentives.

    Read More....
  • Indian Railways approved ₹1,236 crore projects to expand optical fibre network and deploy indigenous Kavach train protection system for enhanced safety and communication.

    Read More....
  • Veteran Telugu actor Nandamuri Balakrishna received Lifetime Achievement Award at International Film Festival of Delhi (IFFD) 2026 for his five-decade contribution to cinema.

    Read More....
  • IIM Kozhikode entered the global top 100 in QS World University Rankings by Subject 2026 for the first time, highlighting India’s rising academic strength.

    Read More....
  • The Ministry of Road Transport and Highways launched PRISM-SG Portal to fast-track approvals and inspections for Road Over Bridges and steel girder fabrication.

    Read More....
  • Veteran Malayalam actor and director E.A. Rajendran passed away at the age of 71 in Kollam after prolonged illness.

    Read More....