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IIFCL Secures Maiden Smart Metering Project Loan with IFC Partnership

Newsmantra — Mon, 15 Jun 2026 10:28:48 +0000

NEW DELHI. India Infrastructure Finance Company Limited (IIFCL) has achieved another significant milestone by signing loan documents for a ₹916 crore Term Loan, representing IIFCL’s share, in a consortium with the International Finance Corporation (IFC). This transaction marks IIFCL’s maiden financing in the Smart Metering sector and represents a first-of-its-kind venture for the institution, reflecting its deep commitment to supporting next-generation infrastructure and technology-driven public utility projects. The funding is dedicated to a critical smart metering project in Rajasthan promoted by Gemstar, a platform backed by GIC, Singapore, and Genus Power Infrastructures Ltd. This project is poised to contribute significantly to modernizing power distribution infrastructure, improving operational efficiency, enhancing consumer services, and supporting India’s broader vision of digital transformation and energy sustainability. Ultimately, this milestone reinforces IIFCL’s role as a leading infrastructure financier that partners with premier global institutions to catalyze investments in critical sectors and drive sustainable infrastructure development across the country.

Presidential Nod for REC and PFC Amalgamation

Newsmantra — Thu, 11 Jun 2026 13:17:55 +0000

NEW DELHI. In a major development for the power sector, REC Limited announced that the Ministry of Power has conveyed the competent authority’s approval for its proposed merger into Power Finance Corporation Limited. This follows a decision by REC’s Board on May 16, 2026, to reserve the proposal for the President of India’s approval. The formal regulatory disclosure was submitted to the stock exchanges under Regulation 30 of the SEBI Listing Regulations.

REC Receives “NBFC of the Year” Award at Bharat NBFC & FinTech Summit & Awards 2026

Newsmantra — Mon, 25 May 2026 05:49:06 +0000

Mumbai/Gurugram: REC Limited has been honoured with the “NBFC of the Year” award at the 3rd Annual Bharat NBFC & FinTech Summit & Awards 2026, recognising the company’s significant contribution towards financing and strengthening India’s infrastructure and power sector.

The award was received on behalf of REC by Shri Alok Kumar, CPM, REC Regional Office, Mumbai, during the award ceremony.

This recognition reflects REC’s continued commitment towards responsible financing, sustainable growth, and operational excellence. It also underscores the organisation’s unwavering dedication towards contributing to nation-building initiatives, maintaining stakeholder trust, and delivering long-term value across the financial ecosystem.

REC has consistently played a pivotal role in supporting India’s power and infrastructure development through innovative financial solutions and strategic investments aligned with the nation’s growth priorities.

The accolade further reinforces REC’s position as one of India’s leading NBFCs committed to excellence, transparency, and sustainable development.