Rural Electrification Corporation (REC) is expecting an over 10% growth in its revenue at Rs 28,000 crore in the current fiscal year on account of excellent performance. REC had a turnover of Rs 25,310 crore in the 2018-19 fiscal.
In a Memorandum of Understanding (MoU) inked with its holding firm Power Finance Corporation (PFC), REC has targeted to achieve Rs 28,000 crore revenue from operations this fiscal in view of excellent performance scenario.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
