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REC receives SCOPE Excellence Award for Digitalization – EQ

REC receives SCOPE Excellence Award for Digitalization – EQ


In Short : REC Limited (formerly Rural Electrification Corporation Limited) is honored with the SCOPE (Standing Conference of Public Enterprises) Excellence Award for Digitalization. This recognition likely acknowledges REC’s achievements and advancements in digital initiatives, contributing to enhanced efficiency and effectiveness in its operations.

In Detail : REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honored with the prestigious Scope Excellence Award in the category of Special Institutional Category (Digitalization). The award acknowledges REC Limited’s unwavering commitment to the digitalization of its workplace and the promotion of best practices in establishing a paperless office.

The award was presented by the Vice President of India, Shri Jagdeep Dhankhar, at a ceremony held at Vigyan Bhawan in New Delhi on January 18, 2024. Director (Finance), Shri Ajoy Choudhury and Executive Director (BDM), Shri Saurabh Rastogi of REC Limited graciously accepted the award from the Vice President of India at the ceremony.

This accomplishment underscores REC Limited’s dedication to embracing technological advancements and fostering a culture of innovation within the organization.

SCOPE was established in 1973 as an apex body of Public Sector Enterprises (PSEs), and is dedicated to promoting competitiveness and excellence within the PSE sector. The SCOPE Excellence Award recognizes and commemorates exemplary performances of Public Sector Enterprises.

About REC Limited:

REC is a ‘Maharatna’ CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects. More recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel and Refinery. REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). The loan book of REC stands at Rs 4.74 Lakh Crore and Net Worth at Rs. 63,117 crores on 30 September, 2023.

Anand Gupta Editor - EQ Int'l Media Network