E-PaperRural Electrification Corp News
Govt considers merging Power Finance, REC: Report
The first phase of the deal will see REC acquiring a majority stake in Power Finance valued at $2.5 billion possibly by the year ending March 2019
2 min read28 Nov 2018Six firms bid for advising finance ministry on two M&A deals
Ernst & Young, Deloitte Touche Tohmatsu, ICICI Securities, IDBI Capital Market and Securities, SBI Capital Markets and RBSA Capital Advisor are in the race for advising the finance ministry on two merger and acquisition deals
2 min read25 Nov 2018India plans power sector mergers to raise ₹ 20,000 crore
The government is planning to sell its stake in SJVN Ltd and Power Finance Corporation to NTPC and Rural Electrification Corporation, respectively, with an aim to rein in India's fiscal deficit
1 min read24 Sep 2018Govt mulls selling its stake in PFC to REC
The REC stock was trading at ₹98.90, down 7.35 per cent, while the PFC scrip was trading at ₹79.60, 1.18 per cent lower over its previous close on the BSE.
1 min read24 Sep 2018Decision on power NPAs likely by 10 October
The power NPAs issue was discussed at a meeting hosted by Power Finance Corp and attended by major power sector lenders, including SBI, PNB and Rural Electrification Corp
2 min read20 Sep 2018India banks to plan resolving $19 billion power sector debt on today
The meeting follows a 11 Sept. order by Supreme Court to temporarily halt a move to begin bankruptcy proceedings against delinquent power producers, stalling efforts by the RBI to clean up soured debt at the nation's banks
1 min read20 Sep 2018REC to seek central bank’s nod for Pariwartan ARC
Move part of govt plan to start an asset reconstruction firm for stressed power assets
2 min read5 Sep 2018Middle East, Africa seek India’s help to light up their villages
Jordan, Syria and nations in sub-Saharan Africa have evinced interest in state-run Rural Electrification Corporation (REC) bringing electricity to their villages
2 min read13 May 2018Leisang lights up, now every Indian village has power
Electricity now reaches all 597,464 census villages, bringing Modi's aim of providing all homes access to power a step closer to reality
2 min read29 Apr 2018Electricity reached all Indian villages on Saturday
All Indian villages now have access to electricity. The last village to be brought on the national power grid was Leisang village in the Senapati district of Manipur at 5.30pm today
2 min read28 Apr 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared