New Delhi, January 04, 2024.

REC Limited has signed a Memorandum of Understanding (MoU) with Bank of Baroda in order to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years. Recognizing the pressing need to fortify these critical domains, REC Limited and Bank of Baroda unite with a shared vision of advancing sustainable growth and bolstering the nation’s infrastructural backbone. By pooling resources and expertise, both entities endeavor to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide.

The MoU was signed on January 3, 2024 in the presence of Chairperson and Managing Director (CMD), REC Limited, Shri Vivek Kumar Dewangan and Managing Director & CEO, Bank of Baroda, Shri Debadatta Chand along with Executive Director, Bank of Baroda, Shri Lalit Tyagi.