New Delhi: REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has been honored with the ‘Best Design Thinking Award’ at the 5th Distinguished NBFC (DNA) Awards organized by Banking Frontiers. The award acknowledges REC’s pioneering efforts in applying design thinking to enhance customer-centric digital innovation, particularly in the domain of Retail Bonds.
Innovative Digital Transformation in Focus
REC received the award for its innovative digital initiatives that have significantly improved user experience, transparency, and operational efficiency in Retail Bonds – a key area of financial inclusion and public investment. The application of design thinking has enabled the organization to better understand consumer behavior and align its services with emerging market needs.
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Leadership Applauds the Achievement
Mr Jitendra Srivastava, a 2000-batch IAS officer of the Bihar cadre and CMD, REC Limited, congratulated the entire Finance Team for their dedicated efforts, stating that the award reflects REC’s broader commitment to technology-led financial excellence. He emphasized the critical role innovation plays in modernizing public sector finance and service delivery.
Also present at the celebration were Mr Harsh Baweja, Director (Finance), and senior officers from the organization, who lauded the team’s performance and vision.
Award Received by Finance Team in Mumbai
The award was formally received by Mr Alok Singh, General Manager and CPM (Mumbai), along with key officials from the Finance Team, who have been instrumental in driving the transformation project forward.
Management used the occasion to reiterate REC’s strategic focus on fostering a culture of innovation, agility, and digital transformation, urging teams across all departments to continue pushing boundaries and setting industry benchmarks.
About REC Limited
REC Limited is one of India’s leading Non-Banking Financial Companies (NBFCs) and plays a vital role in financing the country’s power sector infrastructure. With its upgraded Maharatna status, REC continues to spearhead financial and operational reforms, combining legacy expertise with forward-thinking digital strategies.
