Gurugram : In a significant Corporate Social Responsibility (CSR) initiative, REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has committed Rs. 15 crore to provide free medical treatment and surgery for approximately 1,000 children born with congenital heart disease from economically weaker sections of society.
The Memorandum of Agreement (MoA) formalizing this noble endeavour was signed between Ms. Taruna Gupta, Executive Director of CSR at REC Limited, and Shri Vivek Gaur, Trustee of Sri Sathya Sai Health and Education Trust. The agreement was exchanged in the esteemed presence of Shri Vivek Kumar Dewangan, Chairman and Managing Director of REC Limited.
This initiative is a continuation of REC’s previous CSR initiative, "Healing Little Hearts," where Rs. 15 crore was allocated to treat 1,000 children. The success of the initial project, which provided these children with a new lease on life, has motivated REC to extend its support to even more families in need.
Through this initiative, REC Limited reaffirms its commitment to social responsibility by ensuring that children born with congenital heart disease receive the necessary medical intervention to lead healthy and active lives. This initiative underscores REC’s ongoing dedication to making a positive impact in the lives of those in need through its CSR activities.
ABOUT REC LIMITED
REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹ 5.30 lakh crore and Net Worth at Rs. ₹ 72,351 crore as on 30th June, 2024.
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