REC Ltd Honored with Golden Peacock Award in Risk Management

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has received the prestigious Golden Peacock Award for its outstanding performance in risk management. This award, presented by the Institute of Directors (IOD), acknowledges REC’s dedication to implementing robust risk assessment strategies. Such initiatives are essential for ensuring the organization’s sustainable growth and resilience in a competitive business environment. This recognition highlights REC’s commitment to excellence in risk management practices.

Download Free February 2024 BOLT PDF (Current Affairs)

The recognition also underscores REC’s commitment to excellence and innovation in its operations in the power sector.

About the Golden Peacock Award

The Golden Peacock Awards, introduced by the Institute of Directors (IOD) in India in 1991, have gained international recognition as a benchmark for corporate excellence. REC Limited’s exceptional performance in risk management earned it this prestigious accolade. A distinguished jury, with former Chief Justice of India, Justice M. N. Venkatachaliah at its helm, selected REC Limited for this esteemed recognition.

About REC Limited

REC Limited, a Non-Banking Financial Company (NBFC), specializes in providing financial support for the development and growth of the power sector across India. Established in 1969, REC Limited has a rich history spanning over half a century. It plays a crucial role in offering financial assistance to various entities, including state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperatives, and private sector utilities.

The scope of REC’s business activities encompasses financing projects throughout the entire power sector value chain, covering a range of project types, such as Generation, Transmission, Distribution, and Renewable Energy. Notably, REC’s funding contributes to illuminating approximately every fourth bulb in India, underlining its significant impact on the nation’s power sector. In addition to its core power sector financing, REC has recently expanded its focus to include financing in the infrastructure and logistics sector. This diversification reflects REC’s commitment to supporting key sectors critical for India’s development.

Shubham Mittal

Shubham Mittal is a renowned current affairs writer and expert in government exam preparation, inspiring readers with insightful articles and guiding aspirants with his expertise.

Oliveboard Live Courses & Mock Test Series