Seems like the government is all set to implement PM Suryoday Yojana asap. In a recent development, REC Limited has been appointed as Nodal Agency for Suryoday Yojana. REC Limited is going to lend 1.2 Lakh Crores for this scheme.
REC LTD : The Nodal Agency for PM Suryoday Yojana
As a Nodal agency, the Role of REC Limited is to manage the overall implementation of the scheme. This role given to REC LTD by the Indian government is going to be a huge challenge.
REC LTD has already worked as Nodal agency for yet another scheme called Saubhagya – Pradhan Mantri Sahaj Bijli Har Ghar Yojana. The company has also been actively associated in the implementation of Uday Yojana, NEF Scheme, Deen Dayal Upadhyaya Gram Jyoti Yojana etc. More Details are available HERE
About REC Limited
- REC Limited is a government-owned company in India that provides long-term loans and financing for infrastructure projects in the power sector.It was incorporated in 1969 with the aim of promoting agricultural irrigation and reducing dependency on monsoons.
- REC has expanded its financing to cover power generation, transmission, distribution, renewable energy, as well as non-power infrastructure like roads, railways, airports, and hospitals. REC is ranked 8th in terms of net profit among all profit-making CPSEs in India. It is an important part of government programs for the power sector and is involved in projects like rural electrification and improving the distribution system.
Detailed information on REC Limited is available on Wikipedia.