Rural Electrification Corporation Limited
The Rural Electrification Corporation Limited (REC) is a leading public sector enterprise in India that specializes in financing power infrastructure projects, particularly in rural and remote areas. Here are some brief details about REC:
- Establishment: REC was established on July 25, 1969, under the Companies Act 1956, as a wholly-owned Government of India enterprise.
- Objective: The primary objective of REC is to facilitate the electrification of rural areas and provide financial assistance for various power sector projects.
- Status: REC is classified as a Navratna Central Public Sector Enterprise (CPSE), signifying its high performance and significant contributions to the nation’s development.
Maharatna Companies in India
Maharatna companies in India are a distinct category among Public Sector Undertakings. The term “Maharatna”, which means “a great jewel” in Hindi, highlights the importance of these companies in the national economy and their impact globally. To have the Maharatna status, companies must meet specific criteria set by the Indian government, including already holding Navratna status, being listed on India’s stock exchange with a minimum prescribed public shareholding, and maintaining strong financial performance.
Let us discuss more on the Maharatna Companies in India!
Contact Us