India, Feb. 6 -- Power Finance Corporation on Friday said its board has given in-principle approval for the merger of REC Limited with itself.
Following the proposed merger, Power Finance Corporation will continue to operate as a government company, the lender said.
The board's approval comes after the government announced the proposed merger of PFC and REC in the Union Budget presented on Sunday, aimed at strengthening the power sector financing ecosystem.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....