REC becomes ‘Maharatna’ company
New Delhi, Sep 21 (PTI) Public sector REC has got the status of ‘Maharatna’ Central Public Sector Undertaking. The company said in a statement issued on Wednesday that this status would give it greater operational and financial autonomy. The Department of Public Enterprises under the Ministry of Finance issued an order in this regard on Wednesday. REC was formed in 1969. It is a non-banking financial company focused on financing and development of the power sector across the country.