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REC Secures RBI Approval for Proposed Merger with PFC
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CNBC TV18•16-10-2026, 00:09
REC Secures RBI Approval for Proposed Merger with PFC
- •REC Ltd received a no-objection certificate from the Reserve Bank of India on October 15 for its proposed merger with Power Finance Corporation.
- •The boards of both companies had previously approved the merger scheme on June 28, 2026.
- •The merger remains subject to further statutory clearances, regulatory approvals, and consent from shareholders and creditors.
Key Questions Answered
REC Ltd received a no-objection certificate (NOC) from the Reserve Bank of India (RBI) for its proposed merger with Power Finance Corporation (PFC) on October 15, 2026, subject to specified conditions and instructions.
The boards of REC and Power Finance Corporation officially approved the proposed merger scheme on June 28, 2026, pending necessary statutory, regulatory, shareholder, and creditor approvals.
The merger scheme still requires further statutory and regulatory clearances, alongside formal approvals from the shareholders and creditors of both REC and Power Finance Corporation in accordance with applicable laws.
