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(29/06/2026 12:54)

PFC, REC boards approve merger; Combined loan book to exceed Rs 11 lakh cr

The boards of Power Finance Corporation (PFC) and REC Ltd. have approved a merger scheme between the two state-run power sector financiers.

The proposed merger, approved under Sections 230 to 232 of the Companies Act, 2013, will create a financing entity with an aggregate loan book exceeding Rs 11 lakh crore.

The merger is aimed at creating a larger and stronger lending institution to support financing requirements in India's power sector, subject to the necessary regulatory and statutory approvals.
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