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DPE Secretary Reviews Annual MoU Targets with Power Sector CPSEs

Newsmantra — Tue, 30 Jun 2026 09:48:10 +0000

NEW DELHI. The Secretary, Department of Public Enterprises (DPE), chaired the Inter-Ministerial Committee (IMC) meeting to finalize the annual Memorandum of Understanding (MoU) targets for Central Public Sector Enterprises (CPSEs) under the Ministry of Power. The meeting was attended by senior representatives of the Ministry of Power and leading power sector CPSEs, including NTPC Limited, NHPC Limited, SJVN Limited and Power Grid Corporation of India Limited (Powergrid). During the meeting, the participants reviewed and discussed the proposed performance targets and operational benchmarks for the financial year, aimed at enhancing efficiency, accountability and overall performance of the public sector enterprises.

Government Raises Over 25,491 Crore Through PSU OFS Deals in 2026: Highest in 11 Years

Newsmantra — Tue, 30 Jun 2026 06:34:09 +0000

NEW DELHI. Government Raises Over 25,491 Crore Through PSU OFS Deals in 2026: Highest in 11 Years Major transactions included stake sales in companies such as Coal India, Bharat Heavy Electricals Ltd (BHEL), NHPC, Indian Railway Finance Corporation (IRFC), General Insurance Corporation of India (GIC Re), Central Bank of India, NLC India, and others.

PFC and REC Boards Approve Merger Scheme to Create Rs 11 Lakh Crore Lending Giant

Newsmantra — Tue, 30 Jun 2026 06:13:04 +0000

NEW DELHI. The Boards of Directors of Power Finance Corporation Limited (PFC) and REC Limited (REC) have approved a Scheme of Merger under the Companies Act, 2013, for the amalgamation of REC into PFC, subject to the approval of shareholders, creditors, regulatory and government authorities, and the condition that the merged entity continues to qualify as a Government Company with the Government of India retaining majority control. The proposed merger will create one of the country’s largest infrastructure financing institutions with a combined loan book exceeding Rs 11 lakh crore. As per the approved valuation report, REC shareholders will receive 88 fully paid equity shares of PFC of Rs 10 each for every 100 fully paid equity shares of REC of Rs 10 each held on the record date, which will be announced by the Boards of the two companies at a later stage.