REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has been honored with the ‘ICAI Award for Excellence in Financial Reporting 2022–23’ by the Institute of Chartered Accountants of India (ICAI). Sh. Ajoy Chowdhury, Director (Finance), received the award in the presence of Sh. Vishno Deo Sai, Hon’ble Chief Minister of Chhattisgarh at an event held in Raipur.
Sh. Ajoy Chowdhury expressed gratitude for the recognition and highlighted the dedication of REC Limited’s team in maintaining top-notch financial practices.
Recently, REC was recognized for its exceptional performance in risk management and bestowed with the ‘Golden Peacock Award’ by the Institute of Directors (IOD). Additionally, the company was conferred the ‘Best Central PSU’ Award in the Financial Services category at the Dun & Bradstreet PSU Awards 2023
The Institute of Chartered Accountants of India through its Research Committee organises the ICAI Awards for Excellence in Financial Reporting since the year 1958 to recognise and encourage excellence in preparation and presentation of financial as well as non-financial information in the annual reports by the entities across various sectors.
About REC Limited
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/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. The Loan Book of REC stands at Rs 4.74 Lakh Crore, ending the first quarter of the current financial year.
