Pfc-rec Merger

Merger involving $61 billion of debt seen aiding India's credit market

The government will merge state-run PFC and REC, a move fund managers say could channel more capital into major corporates and large power projects

PFC approves in-principle merger proposal with REC after Budget 2026 push

PFC's board has approved an in-principle merger with REC after the Budget 2026 proposal to restructure the two public-sector NBFCs. The merger details are yet to be finalised

REC net profit rises 13% in Dec quarter on improved asset quality

The net income of the company stood at Rs 4,350 crore in Q3 FY24 as against Rs 3,573 crore in Q3 FY23, registering a jump of 21 per cent

Top 10 biz headlines: Jet gets another EoI, PFC-REC merger stuck, and more

This is the third EoI that Jet has received in the second round of bidding

PFC-REC merger stuck, Centre reaching out to PSUs to pick up stake

One major obstacle is that the direct stake of the Centre will fall below 51% after the merger

PFC, REC merger may leave discoms with higher-than-usual dues on books

The total outstanding dues of the discoms are Rs 26,437 crore, according to the power ministry's portal