Govt sets up panels to work out PFC-REC merger process
New Delhi: The power ministry on Thursday set up two panels to study the modalities of the proposed merger of state-run Power Finance Corp and its subsidiary REC Ltd, and oversee the restructuring process of the two financial institutions.
The ministry has set up a working group with one executive director each from the two companies and the director (distribution) in the ministry to study the modalities of the merger.
