REC CMD Honored with CEO of the Year Award at 24th National Management Summit
Dated 2024-08-30

New Delhi/Gurugram, 30 August 2024: Sh. Vivek Kumar Dewangan, CMD, REC,  has been awarded the prestigious ‘CEO of the Year’ award at the 24th National Management Summit, organized by the Top Rankers Management Club in New Delhi.

The award was graciously accepted on behalf of REC CMD by Sh. T.S.C. Bosh, Executive Director of REC and CEO of RECPDCL. This accolade is a testament to Sh. Dewangan's exceptional leadership and the innovative impact he has had on the industry at large.

Under Sh. Dewangan's visionary guidance, REC Limited has consistently set benchmarks in the sector, driving growth and transformation with a commitment to excellence. This recognition further underscores his dedication to steering the company towards new heights of success.

About REC LIMITED

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.

REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹ 5.30 lakh crore and Net Worth at Rs. ₹ 72,351 crore as on 30^th June, 2024.