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REC Limited has signed a ₹3 lakh crore financing agreement with the Government of Rajasthan for power projects.

Banking & Finance | Dated: 08 Oct 2024

On October 1, 2024, REC Limited (formerly Rural Electrification Corporation Private Limited), a Maharatna Central Public Sector Unit (CPSU) under the Ministry of Power (MOP), signed a Memorandum of Understanding (MoU) with the Government of Rajasthan (GoR) to provide financial support of ₹3 lakh crore for infrastructure projects in the state.

🎯 Key Highlights:

  • - The MoU was signed by Rahul Dwivedi, Executive Director (PMD & I&L), REC Limited, and Debasish Pradhan, Secretary, GoR.
  • - The event was organized in the presence of Bhajanlal Sharma, Chief Minister of Rajasthan, and Colonel Rajyavardhan Rathore, Minister of Industries and Commerce, GoR, during the “Rising Rajasthan Investor Meet”.

💡 Other Important Facts:

  • REC stated that the financing will be provided for projects in both power and non-power infrastructure sectors over a period of six years, until 2030.

📚 Test Your Knowledge:

What amount recently has REC Limited signed a financing agreement for with the Government of Rajasthan?

Correct Answer: ₹3 lakh crore

🚀 Quick Recap:

About REC Limited,

  • Chairman & MD : Vivek Kumar Dewangan
  • Headquarters: New Delhi