What does REC mean in COMPANIES & FIRMS
REC (Rural Electrification Corporation) is a government-owned financial institution in India that provides financial assistance to rural electrification projects. It was established in 1969 to provide loans to state electricity boards and rural electric cooperatives for the development of rural infrastructure.
REC meaning in Companies & Firms in Business
REC mostly used in an acronym Companies & Firms in Category Business that means Rural Eletrification Corporation
Shorthand: REC,
Full Form: Rural Eletrification Corporation
For more information of "Rural Eletrification Corporation", see the section below.
REC Meaning in Business
In the business context, REC plays a crucial role in promoting rural electrification by providing financial support to projects related to:
- Grid extension and strengthening
- Generation and distribution of electricity
- Renewable energy development
- Rural electrification projects
REC Full Form
The full form of REC is Rural Electrification Corporation.
What does REC Stand for?
REC stands for:
- R: Rural
- E: Electrification
- C: Corporation
Essential Questions and Answers on Rural Eletrification Corporation in "BUSINESS»FIRMS"
What is REC?
REC, or Rural Electrification Corporation, is a public sector enterprise under the Ministry of Power, Government of India. It was established in 1969 to provide financial assistance to rural electrification projects across the country.
What are the main objectives of REC?
REC's primary objectives are to:
- Provide long-term financial assistance to state electricity boards, rural electric cooperatives, and other entities engaged in rural electrification projects.
- Promote the development of rural infrastructure related to electricity, including transmission and distribution networks.
- Support renewable energy and energy efficiency projects in rural areas.
- Assist in the development of rural electrification policies and programs.
How does REC provide financial assistance for rural electrification projects?
REC provides financial assistance through various schemes, including term loans, equity participation, and interest-free loans. These schemes offer flexible repayment terms and competitive interest rates to support the development of rural electrification infrastructure.
What are the criteria for obtaining financial assistance from REC?
To obtain financial assistance from REC, entities must meet certain criteria, such as:
- Being a state electricity board, rural electric cooperative, or other eligible entity engaged in rural electrification projects.
- Having a strong financial track record and a viable project proposal.
- Adhering to REC's technical and environmental standards.
How does REC promote renewable energy and energy efficiency in rural areas?
REC promotes renewable energy and energy efficiency through various initiatives, including:
- Providing financial assistance for the development of renewable energy projects, such as solar, wind, and biomass power plants.
- Promoting energy efficiency measures in rural areas, such as the installation of energy-efficient appliances and lighting systems.
- Supporting the development of micro-grids and off-grid renewable energy solutions.
Final Words: REC is a key player in the development of rural infrastructure in India, particularly in the area of electrification. By providing financial assistance to various projects, REC has helped to improve the quality of life in rural areas and contributed to the overall economic growth of the country.
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| All stands for REC |