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Merger10 Jun 2026, 07:11 pm

REC Ltd Merger with PFC Gets Presidential Approval

AI Summary

REC Ltd has received approval from the President of India for its proposed merger with Power Finance Corporation Limited (PFC). This intimation follows an earlier decision by REC's Board of Directors to seek this approval. The Ministry of Power conveyed the Competent Authority's approval on June 10, 2026, marking a significant step towards the consolidation of these two major financial institutions in the power sector.

Key Highlights

  • Presidential approval received for REC Ltd's merger with PFC.
  • Ministry of Power conveyed the Competent Authority's approval.
  • Merger proposal was previously approved by REC's Board.
  • This is a significant step in the consolidation of power sector financial institutions.
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RECLTD
Financial Institution
REC Ltd

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