Government considers proposal to accord DFI status to REC

State-owned power sector finance company REC Ltd on Saturday said that the government is considering a proposal to accord the firm the status of a development financial institution. REC Limited, under the ministry of power, is being considered for the status of a Development Financial Institution (DFI) by the government of India, a company statement said.

The objective behind the move is to enable REC to steer global climate funding and net zero investment in the country, it explained.