New subsidiary to engage in lending, investing and offering other financial services
REC Limited says its wholly-owned subsidiary in International Financial Services Centre (IFSC) – Gujarat International Finance Tec-City (GIFT), Gandhinagar, is to diversify its portfolio and explore new avenues for growth and participate in the global market.
REC Limited https://recindia.nic.in/ CMD Vivek Kumar Dewangan said on 5 May, “The GIFT City platform offers a conducive environment for international lending activities, coupled with world-class infrastructure. We are confident that REC will harness these advantages to carve a niche for itself in the global market.
“The entity at GIFT City https://www.giftgujarat.in/ will not only present new business opportunities for REC but will also contribute significantly to the growth of the country’s energy sector. We look forward to leveraging this strategic move to further propel REC’s mission of fostering growth in India’s power and infra sector while expanding our footprint on the global stage.”
The subsidiary in GIFT, a burgeoning hub for financial services in India, will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services https://mnre.gov.in/ . Fiinews.com
