Last Updated : Mar 25 2019 9:15PM     Screen Reader Access
News Highlights
BJP calls Congress’s minimum income promise bluff            Filing of nominations for 1st phase of LS polls ends            NCP releases manifesto for LS polls            SC asks CBI for status report in case against Mulayam Singh, sons            IPL: Rajasthan win toss, opt to field against Punjab           

Feb 19, 2019

Govt clarifies Rural Electrification Corporation will remain a public sector enterprise

NSD Logo
The government has clarified that Rural Electrification Corporation, REC, will remain a public sector enterprise even after the proposed acquisition by Power Finance Corporation, PFC. 

Speaking to reporters in Mumbai on Monday, Joint Secretary in the Ministry of Power, Mr. Arun Kumar Verma said, Power Finance Corporation is a government company and thus government will continue to control REC even after its acquisition. He added that PFC is likely to close the deal by 31st March this year and the process of price determination for the transaction is currently underway.

Meanwhile, PFC chairman and MD Rajeev Sharma said the company is looking at various options to finance the deal including an open offer to minority shareholders. He added that PFC will benefit through the widespread geographical reach of REC and will also be able to leverage its expertise in transmission and distribution. 

   Related News

Live Twitter Feed

Listen News

Morning News 25 (Mar) Midday News 25 (Mar) News at Nine 24 (Mar) Hourly 25 (Mar) (2000hrs)
समाचार प्रभात 25 (Mar) दोपहर समाचार 25 (Mar) समाचार संध्या 24 (Mar) प्रति घंटा समाचार 25 (Mar) (1900hrs)
Khabarnama (Mor) 25 (Mar) Khabrein(Day) 25 (Mar) Khabrein(Eve) 24 (Mar)
Aaj Savere 25 (Mar) Parikrama 25 (Mar) Lok Ruchi Samachar 24 (Mar)

Listen Programs

Market Mantra 25 (Mar) Samayki 25 (Mar) Sports Scan 25 (Mar) Spotlight/News Analysis 24 (Mar)
    Public Speak

    Country wide 21 (Mar) Surkhiyon Mein 21 (Mar) Charcha Ka Vishai Ha 20 (Mar) Vaad-Samvaad 19 (Mar) Money Talk 19 (Mar) Current Affairs 22 (Mar)