The President has approved the merger of REC Ltd into Power Finance Corporation. This move follows PFC's acquisition of a majority stake in REC in 2019. The Ministry of Power conveyed the approval. The merger will see REC's assets and liabilities transferred to PFC. REC will be dissolved post-merger.

The President has approved the merger of REC Ltd into Power Finance Corporation. This move follows PFC's acquisition of a majority stake in REC in 2019. The Ministry of Power…

REC-PFC merger gets presidential nod while UltraTech, 3i Infotech and others announce key deals worth hundreds of crores