New Delhi: In a landmark accomplishment, REC Limited—a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Financial Company (NBFC)—has become the first Indian Public Sector NBFC to be awarded the prestigious ISO 31000:2018 certification. This certification validates REC’s enterprise-wide risk management framework, aligning it with internationally recognized standards.
Globally Recognized Certification for Enterprise Risk Management
The ISO 31000:2018 certification, granted by the British Standards Institution (BSI), recognizes organizations that implement robust, transparent, and effective risk management systems. This internationally accepted standard provides guidelines and principles that help organizations manage risks comprehensively, ensuring accountability, resilience, and sustainable business operations.
REC’s Commitment to Excellence in Risk Management
Subrata Aich, Chief Risk Officer of REC, expressed pride in this achievement:
“This ISO 31000:2018 certification is a testament to REC’s unwavering commitment to excellence in Enterprise Risk Management. It signifies that REC has a structured, comprehensive, and internationally aligned approach to risk management, which will further enhance the confidence of all our stakeholders, including investors and lenders.”
Formal Presentation at REC’s 56th Foundation Day
The prestigious certification was formally presented to Subrata Aich by Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy, alongside Prateek Rai, India Head – Training (Sales and Operations) at BSI. The event took place during the 56th Foundation Day celebrations of REC Limited, marking a significant milestone in the company’s journey.
Strengthening REC’s Position in India’s Power Sector
This achievement highlights REC Limited’s ongoing dedication to adopting best-in-class risk management practices. As a critical financial institution serving India’s power sector, REC’s enhanced risk framework will reinforce its reliability and forward-looking approach, supporting sustainable growth and investor confidence.
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About REC Limited
REC Limited (formerly Rural Electrification Corporation Limited) is a Maharatna Central Public Sector Undertaking (CPSU) under the Ministry of Power, Government of India. Established in 1969, REC is a leading non-banking financial company (NBFC), playing a pivotal role in financing and promoting power sector development across India.
