REC Ltd. Secures RBI Approval to Establish Subsidiary in GIFT City, Gandhinagar
| Aspect | Details |
|---|---|
| Event | REC Ltd. obtains RBI approval to establish a subsidiary in GIFT City, Gandhinagar. |
| Date of Approval | May 3, 2024 |
| Approval Type | No Objection Certificate (NOC) from RBI |
| Location | Gujarat International Finance Tech-City (GIFT), Gandhinagar |
| Parent Organization | REC Ltd., under the Ministry of Power |
| Subsidiary Focus | Financial activities including lending, investment, and other financial services |
| Strategic Vision | Exploring opportunities in the global market, leveraging GIFT City's infrastructure |
| Key Figure | CMD of REC Limited, Vivek Kumar Dewangan |
| Expected Impact | Expansion into global markets, growth in India's energy sector, and sustainable development |