REC, Bank of Baroda sign MoU to finance power, infra and logistics projects!
Banking & Finance
In a significant development aimed at boosting India's infrastructure, state-owned REC Limited has signed a Memorandum of Understanding (MoU) with the Bank of Baroda (BoB) to jointly finance projects in the power, infrastructure, and logistics sectors over the next three years.The MoU was signed in presence of Vivek Kumar Dewangan, IAS, chairman and managing director (CMD), REC Limited and Debadatta Chand, managing director and CEO, Bank of Baroda along with Lalit Tyagi, executive director, Bank of Baroda.
Commenting on this collaboration, Dewangan said, "This landmark agreement signifies a collaborative effort to accelerate the realisation of pivotal projects crucial to the nation's progress.
The MoU was signed in presence of Vivek Kumar Dewangan, IAS, chairman and managing director (CMD), REC Limited and Debadatta Chand, managing director and CEO, Bank of Baroda along with Lalit Tyagi, executive director, Bank of Baroda.
The collaboration aims to catalyse transformative projects that will positively impact communities and drive socio-economic progress
Founder: Sayajirao Gaekwad III
Headquarters: Alkapuri, Vadodara
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