12-Jun-2026 19:06:12
PFC : PRESIDENT APPROVES PROPOSED MERGER OF REC WITH PFC ⚡🏦
• 🇮🇳 Ministry of Power has conveyed the approval of the Hon'ble President of India for the proposed merger of REC Limited into Power Finance Corporation (PFC) • 📝 Approval was communicated through a letter dated 10 June 2026 from the Ministry of Power • 🏛️ PFC's Board had earlier decided on 16 May 2026 to place the merger proposal before the President of India for approval • 🔄 Presidential approval marks a significant milestone in the merger process and clears a key regulatory hurdle • ⚡ The proposed combination would bring together two of India's largest power sector financiers under a single entity 🟢 Impact: Positive (Presidential approval significantly advances the merger process, paving the way for creation of a larger and stronger power sector financing institution with potential operational and financial synergies.)
REC LIMITED