Merger of REC with Power Finance Corporation gets Presidential approval
· livemint.com
REC Ltd will merge with Power Finance Corporation after the President's approval, nearly seven years post-PFC's acquisition of a majority stake. This merger aims to enhance efficiency in Public Sector NBFCs and will dissolve REC as per the Companies Act.
The President has approved the merger of REC Ltd with Power Finance Corporation, nearly seven years after PFC acquired the government's majority stake in REC.
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