Newdelhi:19/10/23:REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has been recognized for its exceptional performance in risk management with the esteemed Golden Peacock Award, given by the Institute of Directors (IOD). The Golden Peacock Award in Risk 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. The recognition also underscores REC’s commitment to excellence and innovation in its operations in the power sector.
The Golden Peacock Awards, established by the Institute of Directors (IOD), India in 1991, has emerged as an internationally acclaimed standard for corporate excellence. REC Limited was selected by the jury panel headed by former Chief Justice of India, Justice M. N. Venkatachaliah.
Director (Projects), REC, Shri V. K. Singh and Executive Director (Finance), REC, Shri Daljeet Singh Khatri received the award on behalf of REC at a glittering ceremony held in London on 17th October 2023.
REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years of operations. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperatives, and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India. REC has recently diversified into financing infrastructure and logistics sector as well.