India, Feb. 6 -- The board of Power Finance Corporation (PFC) at its meeting held on 06 February 2026 has approved the following:Pursuant to 'In Principle' approval of Cabinet Committee on Economic Affairs (CCEA), PFC acquired 52.63% of Govt's holding in REC (REC). Accordingly, PFC and REC are operating as holding and subsidiary companies.The Board of Directors of PFC took note of the budget announcement and accorded its in-principle approval for restructuring in the form of a merger of PFC and REC, while ensuring that, post-merger, PFC continues to remain as a Government Company under the Companies Act, 2013 and other applicable laws.
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