REC Limited has signed an MoU with Rail Vikas Nigam Limited (RVNL) to finance infrastructure projects worth Rs 35,000 crore.

Shri Ajoy Chaudhary, Director (Finance), REC and Shri Rajesh Prasad, Director (Operations), RVNL, signed the MoU.

These include multi-modal logistics hub projects, rail infrastructure projects, roads, ports and metro projects.
Rail Vikas Nigam Limited will complete these projects in the next 5 years.

Rural Electrification Corporation (REC) Limited:

REC is a Non-Banking Financial Company (NBFC).
It was established in 1969.
It focuses on financing and development of the power sector across India.
It comes under the Ministry of Power.
REC was granted the status of 'Maharatna' Central Public Sector Enterprise (CPSE) on 22 September 2022.
REC is the 12th CPSE to receive Maharatna status.
CMD – VK Dewangan
REC has been appointed as a nodal agency for the following schemes:
1. Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya)
2. Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY)
3. National Electricity Fund (NEF)

Rail Vikas Nigam Limited (RVNL):

It is a 100% central government-owned public sector undertaking.
Approval for establishment of RVNL was granted by the Government of India on 19.12.2002 and it was registered as a company under the Companies Act, 1956 on 24 January 2003.
RVNL started operations in 2005.
It comes under the Ministry of Railways.
In the year 2013, it was given the status of Mini-Ratna.
It has been granted the status of 13th Navratna company in April 2023.
It was set up to implement railway infrastructure projects and raise extra budgetary resources for Special Purpose Vehicles (SPVs).
Headquarters – New Delhi