PFC, REC boards approve merger scheme; aggregate loan book to exceed ₹11 lakh crore
Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) have received board approval to merge, creating a massive power sector financing entity with a loan book exceeding ₹11 lakh crore. The merger will be executed under the Companies Act, 2013, with a specific share exchange ratio for shareholders.
Why it matters
This consolidation creates a dominant player in India's power infrastructure financing, potentially streamlining capital allocation for energy projects.
“The boards of directors of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) Limited have approved a scheme of merger for the two power sector companies,” according to an official statement issued on Monday (June 29, 2026).
The article is a straightforward business report on a corporate merger.
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