PFC board approves bringing REC into its fold
Power Finance Corp. Ltd’s board on Friday approved the merger of its subsidiary REC Ltd into the parent, days after the Union Budget 2026-27 proposed restructuring of the two power-sector-focused non-banking financial companies (NBFCs).
The PFC board said in a regulatory filing that it would “ensure that, post-merger, PFC continues to remain as a ‘Government Company’ under the Companies Act, 2013 and other applicable laws”, adding that the detailed merger scheme, once finalized, would be shared after requisite approvals.
