REC has been given nod of the RBI in order to set up subsidiary in GIFT City in the state of Gujarat.
The competent authority has issued a notice lately mandating REC to start setting up subsidiary in GIFT City, Gujarat.
A Maharatna CPSE under Ministry of Power, REC Limited is also a leading NBFC. It now has received a ‘No Objection Certificate’ (NOC) from Reserve Bank of India (RBI) which enables them to kick off the initiative towards setting up a subsidiary in Gujarat International Finance Tech-City (GIFT) in Gandhinagar, Gujarat.
