Proposal for merger of Rural electrification corporation ltd and Power finance corp.

India is considering a proposal to combine two state-run lenders to utilities, REC Ltd. and Power Finance Corp. The government owns 58% of REC (formerly Rural ElectrificationNSE -0.63 % Corp) and 66% of PFC.
The government has proposed that Power Finance Corp acquire REC in a Rs 14,000-crore deal, a surprising reversal of the previous plan of REC taking over PFC.
By the year ending March 2019, REC acquiring a majority stake valued at about $2.5 billion in Power Finance.
According to those associated with the developments, the merger — if it happens — will result in an integrated power sector lending institution with a pan-India presence and will provide an opportunity for the Centre to make money and meet its disinvestment target.
 

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