State-run power sector lender REC Ltd has bagged the Skoch Award (Gold) in the ‘Response to Covid’ category for the various initiatives taken by the company. The award has been received by Sanjeev Kumar Gupta, CMD of REC Ltd through a virtual ceremony.
November 04, 2020. By Manu Tayal
State-run power sector lender REC Ltd has bagged the Skoch Award (Gold) in the ‘Response to Covid’ category for the various initiatives taken by the company.
The award has been received by Sanjeev Kumar Gupta, CMD of REC Ltd through a virtual ceremony.
Notably, the Navratna NBFC has undertaken several measures in their corporate office and regional offices pan-India to safeguard the employees and their families.
Owing to the IT infrastructure established by the corporation, it was able to maintain its business continuity and key operations during the pandemic induced lockdown.
The company distributed over 4.83 lakh kilograms of food grains, 4.68 lakh meal packets, 10,007 litres of sanitizers, 4,690 PPE kits, 2,500 gloves and 87,300 masks to help combat the pandemic.
Moreover, to support the frontline corona warriors, it had also partnered with TajSATS, a joint venture of IHCL and SATS Ltd, to distribute specially-made nutritious meal packs to the medical staff in Safdarjung Hospital, New Delhi on a daily basis.
On a daily basis, it had delivered 300 food packets as a gesture of gratitude to the healthcare workers in New Delhi and overall, 49,500 meals were provided through this collaborative endeavour.
REC is a Navratna non-banking financial company (NBFC) focusing on power sector financing and development across India. Established in 1969, the company has completed over 50 years in the area of its operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.
Meanwhile, its business activities involve financing projects in the complete power sector value chain; different type of projects includes generation, transmission, distribution projects, and renewable energy projects.
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