The proposed acquisition of Power Finance Corporation (PFC) by state-run Rural Electrification Corporation (REC) would require the approval of banking regulator RBI and competition watchdog CCI, an official said.
The finance and power ministries have been holding hectic parleys for the proposed merger and acquisition between the two power sector companies, which are Non-Banking Finance Companies (NBFCs) providing funds for power projects.
Once the proposal is cleared by the power ministry, it would be taken to the cabinet for the final approval. Read More
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