Kumar Dewangan News Today

The entity at GIFT City is expected to offer new business opportunities and contribute to the growth of India's energy sector.

The decision to expand operations into GIFT, a burgeoning hub for financial services in India, comes as REC continues to diversify its portfolio and explore new avenues for growth, the company stated.

The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.

According to the statement, REC Ltd, under the Ministry of Power and a leading NBFC, has received a No Objection Certificate (NOC) from the Reserve Bank of India (RBI) for setting up a subsidiary in Gujarat International Finance Tech-City (GIFT) in Gandhinagar, Gujarat.

REC Limited, a Maharatna CPSE under the Ministry of Power, has signed an MoU with the Rajasthan government to finance projects across power and non-power infrastructure sectors with an investment of up to Rs 20,000 crore per annum for a period ...

Government-owned power sector financier, REC Ltd, has signed an agreement with the Rajasthan government to provide up to Rs 1.2 lakh crore over six years for power and infrastructure-related projects. REC will finance up to Rs 20,000 crore annually for a period of six years across power and non-power infrastructure sectors.

The company has issued 5-year, 5.25-year and 10-year Green bonds, under its US$ 10 billion Global Medium Term Notes Programme.

REC Limited has successfully issued its inaugural 61.1 billion Japanese Yen ($41.56 million) 5-year, 5.25-year and 10-year Green bonds, as part of its $10 billion global medium term notes programme.

REC Ltd, a state-owned company in India, has raised JPY 61.1 billion (about Rs 3,500 crore) through green bonds. The issuance includes 5-year, 5.25-year, and 10-year bonds under its USD 10 billion Global Medium Term Notes Programme. This marks REC Ltds eleventh venture into the international bond market and the first Yen Green Bond issuance by any Indian PSU. The notes will be used to finance eligible green projects, aligning with RECs commitment to promoting green and clean energy.

The bonds, with tenures of 5 years, 5.25 years, and 10 years, were issued at yields of 1.76 per cent, 1.79 per cent, and 2.20 per cent, respectively, , Green Bonds, REC Group