In a historic development for India’s power sector, the boards of Power Finance Corporation Limited (PFC) and REC Limited have approved a Scheme of Merger under Sections 230 to 232 of the Companies Act, 2013, for the amalgamation of REC into PFC. According to the companies, the merger will create a government-owned financing entity with…
Power Finance Corporation Limited (PFC) has promoted Deepak Jain to the post of Executive Director, effective January 16, 2026, according to a stock exchange filing. Jain was previously serving as Chief General Manager at PFC and has over 26 years of experience with the power sector lender. His work has covered project financing, deal structuring,…
REC Limited reported a net profit of Rs 158.84 billion in FY 2024-25, marking a 12.29 per cent increase from Rs 141.45 billion in the previous year. Total income rose by 18.63 per cent to Rs 564.34 billion, compared to Rs 475.71 billion in FY 2023-24. The company recorded disbursements of Rs 1,911.85 billion in…