New Delhi, 17 September 2019: REC Limited has been conferred with the ‘PSE Excellence Award, 2018’ by the Indian Chamber of Commerce (ICC), as Runner Up in the Navratna&Maharatna category, for excellence in Corporate Governance. The award was received by Shri Ajeet Kumar Agarwal, CMD & Director (Finance) and Shri J.S.Amitabh, Executive Director & Company Secretary of the Company, at the award ceremony held at New Delhi on August 29, 2019.
PSE Excellence Awards have been instituted by the Indian Chamber of Commerce to recognize excellence in public sector undertakings. The award has been conferred to the company based on detailed evaluation by an independent jury through a rigorous and transparent process.
About REC Limited: REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC focusing on Power Sector Financing and Development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different type of projects includes Generation, Transmission, Distribution Projects, and Renewable Energy projects.
Established in 1969, REC Limited is celebrating its Golden Jubilee this year.