REC Limited, a Maharatna Central Public Sector Enterprise under the administrative control of the Ministry of Power, has been awarded the prestigious Golden Peacock Award conferred by the Institute of Directors (IoD) for its exceptional performance in disaster management. The Golden Peacock Award for Disaster Management highlights REC's continued commitment to implementing effective risk assessment strategies, thereby contributing to the organization's sustainable growth and resilience in a competitive business landscape.
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This enhancement in recognition and prestige also underlines REC's commitment towards excellence and innovation in its operations for the power sector.
The Golden Peacock Awards, instituted by the Institute of Directors (IoD) in India in the year 1991, have emerged as an internationally acclaimed benchmark for corporate excellence. Former Chief Justice of India Justice M.N. REC Limited was selected for the award by a jury panel headed by Venkatachaliah.
REC Director (Projects) Shri V.K. Singh and Shri Daljit Singh Khatri, Executive Director (Finance) at REC, received the award on behalf of REC at a glittering ceremony held in London on 17 October 2023.
Information about REC Limited
REC Limited is a non-banking financial institution that focuses on financing and development of the power sector across India. REC Limited, established in the year 1969, has completed more than fifty years of operation. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperative societies and utility service providers from the private sector. Its business activities include financing a wide range of projects across the entire power sector value chain including generation, transmission, distribution and renewable energy. According to statistics, every fourth bulb in India is lit with financial assistance provided by REC. REC Limited has also recently started services in financing infrastructure and logistics sector.
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