Power Finance Corporation Ltd. (PFC) has been honoured with the Corporate Social Responsibility award in the NF (Non-Fossil Fuel) business category at the Outlook Planet Sustainability Summit & Awards 2024, held in Goa. Chairperson & Managing Director, PFC, Smt. Parminder Chopra received the Award from Secretary, Department of Administrative Reforms and Public Grievances, Govt. of India, Shri V. Srinivas in presence of officials from Department of Public Enterprises, IIT Goa and Outlook.
The Outlook Planet Sustainability Summit & Awards 2024 brought together senior government policymakers and top management of Central Public Sector Enterprises to discuss and showcase exemplary initiatives in sustainability. PFC’s win in the CSR NF category is a testament to its unwavering commitment to social responsibility and sustainable business practices. The Summit honoured luminaries and pioneers in various categories for their outstanding contributions to sustainability.
PFC’s CSR initiatives focus on impactful projects contributing to inclusive growth and equitable development in society through education and capacity building measures. As India’s leading public sector enterprise and a responsible corporate, PFC has been extending financial support to various sustainable & developmental initiatives in the areas of health, sanitation, education, environment & sustainability, skill development and empowerment of differently abled people.
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen and Green Ammonia projects. More recently, REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel and Refinery. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.
REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY) and National Electricity Fund (NEF) Scheme which resulted in strengthening of last-mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna. The loan book of REC stands at ₹ 5.09 lakh crores and Net Worth at Rs. ₹ 68,783 crores as on 31 March, 2024.
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