REC-PFC Merger
President Murmu approves proposed merger of REC with PFC
This story was originally published at 19:30 IST on 10 June 2026
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--Govt approves merger of REC with Power Fin Corp
NEW DELHI – President of India Droupadi Murmu has approved the proposed merger of REC Ltd. with Power Finance Corp. Ltd. The Ministry of Power has conveyed the approval of the president for the proposal Wednesday, PFC informed exchanges.
The Budget for 2026-27 (Apr-Mar) had proposed restructuring PFC and REC to achieve scale and efficiency in public-sector non-banking finance companies.
As of Mar. 31, PFC's standalone loan asset book was INR 5.8 trillion, while REC's was INR 5.84 trillion. In FY26, PFC reported a net profit of INR 200.51 billion on revenues of INR 585.04 billion, while REC reported a net profit of INR 162.82 billion on revenues of INR 591.40 billion.
On Wednesday, PFC's shares ended at INR 431.30 on the National Stock Exchange, down 1%. Shares of REC closed at INR 348.80, down 0.9% from Tuesday. End
Reported by Shubham Rana
Edited by Saji George Titus
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