REC signs MoU with NICSI for ICT and digital transformation

REC has signed a Memorandum of Understanding (MoU) with M/s National Informatics Center Services Inc. (NICSI), Ministry of Electronics and Information Technology, Government of India for various Information and Communication Technology (ICT) and Digital Transformation services under National Informatics Centre (NIC).

• This MoU was signed by Pankaj Gupta, Senior GM of REC Limited and Dr. Vinay Thakur, MD of NICSI.

How will this agreement benefit REC?

• This MoU will benefit the REC ecosystem by facilitating exploration of latest technology in emerging areas like IoT, Artificial Intelligence, Machine Learning, Data Analytics, Blockchain, Cyber Security etc.
• This collaboration with NICSI will enable REC to provide one-stop end-to-end NIC/NICSI software products deployment, hosting, core roll-out, technical support, security, services, system administration, etc.

REC Limited:

• Established: 1969
• Headquarters: New Delhi
• Chairman and Managing Director (CMD): Vivek Kumar Devgan
• REC was formerly known as Rural Electrification Corporation Limited.
• REC Limited is an NBFC focused on financing and development of the power sector across India.
• It provides financial support to the entire power sector value chain. Also, it would works for different types of projects including generation, transmission, distribution and renewable energy.
• REC funding lights every fourth bulb in India. REC is a 'Maharatna' company under the Ministry of Power.

Important full forms for the exam:

• REC: Rural Electrification Corporation Limited
• NIC: National Informatics Center
• NICSI: M/s National Informatics Center Services Inc.