PFC to buy 52.63 percent govt shares in REC for Rs 14,500 crore by March-end

Posted on:23 Mar 2019 09:00:04
PFC to buy 52.63 percent govt shares in REC for Rs 14,500 crore by March-end
23 March 2019 Current Affairs: State-owned Power Finance Corporation (PFC) will acquire the entire 52.63 per cent shares of the government in REC for Rs 14,500 crore by the month-end, a move that will help the centre to meet its disinvestment target.
REC Limited is a public Infrastructure Finance Company in India’s power sector. The company is a Public Sector Undertaking and finances and promotes rural electrification projects across India.
The government proposes to raise Rs 80,000 crore from disinvestment during the fiscal ending March 19 and has so far raised Rs 56,473.32 crore. With completion of PFC-REC deal, the amount will increase to over Rs 70,000 crore.
State-owned Power Finance Corporation (PFC) will acquire the entire 52.63 per cent shares of the government in REC for Rs 14,500 crore by the month-end, a move that will help the centre to meet its disinvestment target.
REC Limited is a public Infrastructure Finance Company in India’s power sector. The company is a Public Sector Undertaking and finances and promotes rural electrification projects across India.
The government proposes to raise Rs 80,000 crore from disinvestment during the fiscal ending March 19 and has so far raised Rs 56,473.32 crore. With completion of PFC-REC deal, the amount will increase to over Rs 70,000 crore.

Monthly Current Affairs

Fresherslive telegram Group

Card image cap

Current Affairs Section

Daily Current Affairs Quiz


Daily Current Affairs Videos Video Link
15th June 2019 Current Affairs Video
14th June 2019 Current Affairs Video
13th June 2019 Current Affairs Video
12th June 2019 Current Affairs Video
11th June 2019 Current Affairs Video
Watch more Current Affairs Videos





Subscribe to Current Affairs

Enter your email to get daily current affairs
SUBSCRIBE
Download Current Affairs PDF
Weekly pdf's
60 24
at 36 off

Monthly pdf's
250 89
at 161 off

Yearly pdf's
1200 499
at 701 off

YEARLY Current Affairs PDF

  • Yearly Current Affairs 2018 PDF


  • Currentt Affairs 2019 June

    17 JUNE
    NEWS
    16 JUNE
    NEWS
    15 JUNE
    NEWS
    14 JUNE
    NEWS

    Currentt Affairs 2019 May

    31 MAY
    NEWS
    30 MAY
    NEWS
    29 MAY
    NEWS
    28 MAY
    NEWS

    Currentt Affairs 2019 April

    30 APRIL
    NEWS
    29 APRIL
    NEWS
    28 APRIL
    NEWS
    27 APRIL
    NEWS




    Crack All UPSC,SSC,PSC,Railway,BANK Exams without Coaching - Buy PDF's @ Rs. 24/- only
    BUY NOW
    ×