Current Affairs - Finance - Discussion

REC Limited received a No-Objection Certificate (NOC) from the Reserve Bank of India (RBI) on October 16, 2026, for its proposed merger with Power Finance Corporation Limited (PFC). The proposed transaction involves the merger of REC Limited into PFC under Sections 230–232 of the Companies Act, 2013. REC Limited is a government-owned financial corporation that provides funding for power sector infrastructure, including electricity generation, transmission and distribution. The RBI’s NOC represents an important regulatory milestone, but it does not mean the merger is complete. Further legal, statutory and regulatory requirements must be fulfilled before the merger can be finalized.