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GovJobAdda, Bengaluru
shared a Current Affairs Article 3 weeks ago

Headline : REC deal makes PFC $80 billion lending behemoth.

Details :

Power Finance Corp. Ltd (PFC) has completed the purchase of a controlling stake in state-run peer REC Ltd.

It will create an $80-billion lending giant by assets and potentially help in faster resolution of stressed assets in India’s power sector. PFC paid ₹14,500 crore to the Union government to buy a 52.63% stake in REC.

Section : Business
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