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The Economic Times

Economy / The Economic Times

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PFC, REC boards give in-principle nod to merger; detailed plan to follow

The boards of Power Finance Corporation and REC have given their in-principle approval for a merger. This move follows an announcement in the budget to restructure these public sector NBFCs. The merger aims to create a larger, more efficient lending institution. This will help finance India's growing power sector needs. Detailed proposals will be made after obtaining necessary approvals.

7 Feb 2026 12:37 am