REC Foundation contributed to Armed Forces Flag Day Fund

Utkarsh Classes Last Updated 20-02-2024

REC Foundation contributed to Armed Forces Flag Day Fund

Defence 4 min read

REC Limited donated Rs 15 crore to the Armed Forces Flag Day Fund for the education of children of ex-servicemen. This amount will be used for the education of about 12,500 children of ex-servicemen.

Uses of Armed Forces Flag Day Fund (AFFDF):

This contribution underlines REC Foundation's dedication to supporting those who have selflessly served the nation.
The Armed Forces Flag Day Fund (AFFDF) provides assistance to veterans, widows, dependents and rehabilitation institutions.
The contributions made by REC Foundation play a vital role in ensuring continued support and care for those who serve the nation.
REC Foundation's contribution to this fund reaffirms its commitment to corporate social responsibility and its dedication to making a positive impact on society.

Contribution to AFFDF:

Citizens of India can contribute to the welfare of war-widows and dependents of martyrs by showing solidarity with soldiers and their families by contributing generously to AFFDF.
Contributions to AFFDF are tax-exempt under section 80G(5)(vi) of Income Tax Act, 1961.
Defence Minister Rajnath Singh has appealed to the people to contribute generously to the Armed Forces Flag Day Fund for the welfare of brave women, ex-servicemen and their families.

Armed Forces Flag Day:

Since 1949, December 7 has been observed as Armed Forces Flag Day to honor the martyrs across the country.

About REC Limited:

REC Limited is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power. Registered with RBI as NBFC and Infrastructure Financing Company (IFC).
REC Limited was established on 25 July 1969.
REC finances the entire power-infrastructure sector. This mainly includes new technologies like renewable energy and electric vehicles, battery storage, pumped storage projects, green hydrogen and green ammonia.
Recently, REC has also diversified into non-power infrastructure sector, which primarily includes:
- Roads and Expressways, Metro Rail and Airports
- IT communication
- Social and commercial infrastructure (educational institutions, hospitals)
- Port
- Steel and Refinery
- Electro-Mechanical (E&M).
REC Limited offers infrastructure loans to state, central, and private companies with varying maturity periods.
REC Limited is playing an important strategic role in the major schemes of the Government for the power sector.