The company has a special role in promoting the power sector
Pursuing its main objective of financing and promoting rural electrification projects across India, Rural Electrification Corporation (REC) provides assistance to state electricity boards/state power utilities and private entities. Formed in 1969, REC plays a unique role in implementing government plans. It’s 81.8 per cent government-owned, with a cash reserve of Rs 2,400 crore (as of March 2008).
This article was originally published on July 28, 2009.
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