PFC‑REC merger creates India’s biggest power‑sector NBFC with ₹11 lakh crore loan book
Power Finance Corp and REC have cleared a board‑level merger that will combine their loan books into a single entity with over ₹11 lakh crore of power‑sector financing. This creates India's largest NBFC in the power space, giving the government a megabank to channel funding for legacy plants and green upgrades alike.