REC (formerly Rural Electrification Corporation Limited) came into being in 1969 to articulate a response to the pressing exigencies of the nation. The company is a Navratna company under the Ministry of Power. The company fund its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings, on its own. Under the discerning leadership of highly qualified and experienced professionals, which has effectively harnessed the individual talents of all its employees, the company has maintained consistent profit margins and paid dividends each year since fiscal 1998.
As a natural corollary, the company has been appointed as the nodal agency by the Government of India for implementation of Saubhagya (Pradhanmantri Sahaj Bijli Har Ghar Yojana) and DDUGJY (Deendayal Upadhyaya Gram Jyoti Yojana), the schemes which aim at providing 24x7 sustainable and affordable powers to all households in the country. The company has also been entrusted with the responsibility of being the coordinating agency for rolling out UDAY (Ujwal Discom Assurance Yojana) which seeks to operationally reform and financially turnaround the power distribution companies of the country.
Business area of the company
The company is a leading infrastructure finance company. The company’s business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution. The company provide financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of many offices across the country.
The company offers a gamut of financial services that cater to entities across the power sector value chain to help them set up power infrastructure, bolster operational efficiency, broaden their product portfolio and implement innovative technology solutions. The company address the financial needs of state power utilities, private sector project developers, central power sector utilities and state governments to facilitate investments in power generation, power, transmission, power distribution and system improvement initiatives.
Subsidiaries of the company
'Best Organization for Women Empowerment' award at Women Achievers Awards 2020 by Exchange4Media
'Mentor of the year in Corp Comm' award at Women Achievers Awards 2020 by Exchange4Media for Ms. Kalpana Kaul
'Prestigious Rising Brands of India 2019' by BARC
ICAI Award for Financial Reporting for FY 2018-19 in 'Public Sector Entities' category.
SCOPE CC Excellence Award 2019 for 'Best House Journal (English)'
SCOPE CC Excellence Award 2019 for 'Best Internal communication campaign'
SCOPE CC Excellence Award 2019 for 'Effective Use of Digital Media for Saubhagaya'
Swachh Bharat Puraskar for contribution to the Swachh Bharat Kosh of the Ministry of Jal Shakti, Government of India
DSIJ award for Highest Employee Efficiency (Navratna - Non-Manufacturing)
Dainik Bhaskar India Pride Award for 'Excellence in Navratna' Category
Dainik Bhaskar India Pride Award for 'HOD in Finance' Category
CIMSME Award for Most Efficient NBFC
Dun & Bradstreet PSU Award for 'Excellence in Financial Services'
Mid-day INFRA Icon Award to Dr. P. V. Ramesh for Oustanding Contribution in the Category 'CMD of the Year'
Golden Peacock Award 2018 for Excellence in Corporate Governance
ISGF Innovation Awards 2019 Gold Winner for 'Best Project for Household Electrification'
Kamikaze Corp Com & PR Excellence Award 2019 for 'Best Internal Publication'
Dainik Bhaskar Excellence Award in Navratna PSU Category
Danik Bhaskar Award to Mr, Ajeet Agarwal Director (Finance), REC for HOD in Finance category
CIDC Vishwakarma Award Commemorative Medal to REC's World HQ project in Gurgugram in the category of Construction Health, Safety and Environment
CBIP Best Power Financing Company
GRIHA Winner of the Year award to REC's World HQ project in Gurgugram in Integrated Water Management category and Energy Management category
SCOPE gold prize for Brand Building through Inclusive Growth Initiatives
SCOPE Excellence Award for outstanding contribution to the Public Sector Management - Institutional Category I (Maharatna & Navrtatna)
SCOPE Meritorious Award for Best Managed Bank, Financial Institution Category
REC wins the Dainik Bhaskar India Pride Award 2017 for being the leading Financial Services NBFC in the Central PSU category
REC wins GOLD n Large Enterprise - Service Category at the Financial Express CFO Awards 2017
REC receiving “CBIP Award for Best Power Financing Company”
REC IT Division awarded Certificate of Recognition for its contribution in Transforming REC by the Governance Now group (SAB TV).
REC receives the exemplary Demonstration of ‘Passive Artiechture Design BY ghira COUNCIL in their 8th Summit 2017
Awarded the “SCOPE Excellence Award for outstanding contribution to the Public Sector Management - Institutional Category I (Maharatna & Navrtatna)” and “SCOPE Meritorious Award for Best Managed Bank, Financial Institution Category” at the Standing Conference of Public Enterprises (SCOPE) Awards on the 8th Public Sector Day function held in New Delhi
SKOCH Smart Technology Award 2015 for REC CSR supported Project.
SKOCH 'Order of Merit' award 2015 for REC CSR supported Project.
REC was conferred with the Fastest Growing Navratna award 2015 at India Today PSUs awards.
REC’s wholly owned subsidiary REC TPCL awarded the Fastest Growing PSU in Other PSUs category.
REC felicitated for commendable work under Swachh Bharat Abhiyan.
REC CMD bags the Best CMD Award in the PSU category at the ‘Business Today Best CEOs Awards’.
REC received 'ICSI National Award for Excellence in Corporate Governance.
REC awarded India Pride Award for 'Excellence in Financial Services'.
REC conferred the CBIP Award for Best Power Financing Company.
REC conferred the IPSE Award 2014 - Rural Sector PSE of the year making Grass Root Infrastructure Impact.
Received Gold Medal for Excellence in presentation of the theme - Women Empowerment at the concluding ceremony of IITF 2014.
Received the 'Rajbhasha Shri Samman' & 'Vishesh Rajbhasha Shri Samman'by the Bharatiya Rajbhasha Vikas Parishad., Dehradun.
Recognized as 'Company of the Year’ and conferred with 'Operational Performance Excellence' award at PSE Excellence Awards 2014.
Rajeev Sharma, CMD, REC received DSIJ PSU Award 2013.
REC received India Today PSU Award.
REC received India Pride Award 2013.
Best Employer India 2013' by Aon Hewitt.
The Helpage India Gold Plate Award' on the occasion of International Day for Older Persons in recognition of the project ‘Multi Facility Health Package for Old Age Homes’ funded under its CSR initiatives.
REC has also been honored with RAJBHASHA SHREE SAMMAN by Bhartiya Rajbhasha Vikas Sansthan, Dehradun during the financial year 2013-14.
REC ranked among ‘Top 50 Best Companies to work for’ by a survey conducted by ‘The Great Places to Work Institute’ in 2012.
REC received DSIJ PSU Award 2012 in the 'Fastest Growing Operational Metrics' Non-Manufacturing Navaratna category.
REC received Silver trophy in the Skoch Digital Inclusion Award 2012 in the Competitiveness category for Implementation of ERP Solution across the Organization.
REC received ‘IPE-CSR Corporate Governance Award by the Institute of Public Enterprises, Hyderabad in recognition of its best practices in CSR during 2012-13.
Rajeev Sharma, CMD, REC received CIDC Vishwakarma Award 2013 in the category of ‘Achievement Award for Industry Doyen’.
Rajeev Sharma, CMD, REC, receiving MoU Excellence Award 2009-2010 for ‘Best Listed CPSE’ from then Prime Minister Dr. Manmohan Singh on January 31, 2012.