REC Limited has received a No-Objection Certificate (NOC) from the Reserve Bank of India (RBI) for its proposed merger with Power Finance Corporation Limited (PFC). The NOC was received on October 15, 2026, subject to the instructions and conditions specified by RBI.

The respective boards of REC Limited and PFC had approved the proposed merger scheme on June 28, 2026. The scheme, being pursued under Sections 230–232 of the Companies Act, 2013, remains subject to other applicable statutory and regulatory approvals, including the required approvals of shareholders and creditors of both companies.

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