Power sector focussed NBFC REC Ltd has been accorded the status of Maharatna central public sector enterprise (CPSE).

• The granting of ‘Maharatna’ status will impart enhanced powers to the company’s board while taking financial decisions. REC Ltd. is the 12th company to be given the Maharatna Status.
• The board of a ‘Maharatna’ CPSE can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad, subject to a ceiling of 15 per cent of the net worth of the CPSE concerned, limited to ?5,000 crores in one project. The board can also structure and implement schemes relating to personnel and human resource management and training.