REC Ltd Names PFC Director Jha to Board, Boosting PSU Synergy

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AuthorVihaan Mehta|Published at:
REC Ltd Names PFC Director Jha to Board, Boosting PSU Synergy
Overview

REC Limited has appointed Shri Rajiv Ranjan Jha as its Nominee Director, effective April 6, 2026. Jha, Director (Projects) at Power Finance Corporation Ltd (PFC), will represent PFC on REC's board, a move approved by the Ministry of Power and based on a Share Purchase Agreement. This strengthens the governance link between the two key power sector PSUs.

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Jha Appointed REC Nominee Director from PFC

REC Limited has appointed Shri Rajiv Ranjan Jha as its Nominee Director, effective April 6, 2026. Jha, who is Director (Projects) at Power Finance Corporation Limited (PFC), will represent PFC on REC's board. This appointment received approval from the Ministry of Power and stems from a Share Purchase Agreement dated March 20, 2019.

Strengthening PSU Governance and Synergy

This move reinforces the governance structure between REC and PFC, two key public sector undertakings (PSUs) in the power financing domain. Jha's role on REC's board signifies a continued alignment between the entities, enhancing mutual oversight and representation as per their inter-corporate agreements. It aligns with the government's approach to strategic partnerships between state-owned entities.

Background on REC and PFC

REC Ltd is a leading public sector NBFC that finances power projects, transmission, distribution, and infrastructure across India. Power Finance Corporation (PFC) is a similar PSU NBFC within the power sector, holding a significant stake in REC and influencing its governance. The Ministry of Power oversees appointments and governance for these entities, guiding PSU consolidation and efficiency efforts.

Future Focus

Moving forward, attention will be on Shri Jha's contributions to REC's board discussions and strategic decisions. Observers will also track any further integration or collaborative initiatives between REC and PFC, as well as broader governance updates within PSU financial institutions.

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