REC Limited joins hands with UNISED to support Education of Children in Siddharthnagar, Uttar Pradesh – EQ
In Short : REC Limited has collaborated with UNISED to support the education of children in Siddharthnagar, Uttar Pradesh. This partnership emphasizes corporate social responsibility, with a focus on enhancing educational opportunities and contributing to the well-being of communities in the region.
In Detail : REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Finance Company, has partnered with the Unit of Science and Educational Development (UNISED) to support the education of around 75,500 children of Siddharthnagar district, Uttar Pradesh. REC has entered into this partnership through its Corporate Social Responsibility arm REC Foundation. REC has committed a financial assistance of Rs. 9.91 crores towards this noble cause.
The Memorandum of Agreement (MoA) between REC Foundation and UNISED has been signed during a ceremony held in New Delhi. The agreement was finalized by Head of CSR at REC Foundation, Mr. Bhupesh Chandolia and Assistant Programme Director at UNISED, Ms. Rashmi Kumari, thus helping solidify UNISED’s commitment to improving educational opportunities for underprivileged children.
UNISED, with its nationwide presence, has stated that it is dedicated to revolutionizing education through innovative learning systems. As part of this collaboration, UNISED will implement solar energy-operated smart classes and establish joyful learning resource labs in government schools across Siddharthnagar district. This initiative aims to provide students with access to modern educational tools and resources, empowering them to excel academically and creatively.
Recently, REC Foundation, has demonstrated unwavering support for the education of 12,500 children of ex-servicemen, making a contribution of Rs. 15 Crores to the Armed Forces Flag Day Fund.
About REC Limited
REC is a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage Projects, Green Hydrogen and Green Ammonia projects. Recently, REC 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 and Refinery.
REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a 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). The loan book of REC stands at Rs 4.97 Lakh Crores and Net Worth at Rs. 64,787 crores as on 31st December, 2023.
