Which public-sector undertaking will acquire the Centre’s 52.63% holding in REC on 6 December 2018?
A. NTPC
B. Power Grid
C. Power Finance Corporation (PFC)
D. Coal India
Answer:C
Which public-sector undertaking will acquire the Centre’s 52.63% holding in REC on 6 December 2018?
A. NTPC B. Power Grid C. Power Finance Corporation (PFC) D. Coal India
Explanation: The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63% holding in Rural Electrification (REC. to the Power Finance Corporation (PFC), along with transfer of management control. The government has a total 58.3% stake in REC, remainder of which is part of Bharat 22 ETF and CPSE ETF. The move will help the Centre meet its disinvestment target of Rs. 800 billion for FY19. PFC, the power sector's leading financier, is battling threats from non-performing power assets that now close to 14,000 Mw. REC, on the other hand, has been at the helm of the Centre's key projects.