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.

LoIs issued to 4 foreign universities; ₹4,000 crore education projects announced at ABSS.
Read More....
Kaziranga becomes India's third-highest tiger density reserve after Bandipur and Corbett.
Read More....
St. Aloysius student sets world record with 170-hour Bharatanatyam performance.
Read More....
Divyanshi wins U-19 WTT title; Priyanuj clinches gold in U-17 boys’ final.
Read More....
Goa Shipyard launches 6th indigenous Fast Patrol Vessel, ICGS ATAL.
Read More....
July 30 marked as World Day Against Trafficking with focus on criminal exploitation.
Read More....
RBI caps investment in AIF schemes to 10% per bank/NBFC.
Read More....
PM Modi releases ₹1,000 coin marking 1,000 years of Rajendra Chola’s naval campaign.
Read More....
Death toll in Gaza crosses 60,000; over half are women and children.
Read More....
Ex-Twitter CEO Jack Dorsey launches offline messaging app Bitchat.
Read More....

REC accorded with 'Maharatna' company status