RBI clears PFC-REC merger with NoC
In short
The RBI has given a NoC for REC to merge into PFC. The reported combined company would have an aggregate loan book of over ₹11 lakh crore.
This matters because it could reshape a large state-linked financing business. The reporting does not say when the merger will be completed or what other approvals may still be needed.
What the reporting says
The RBI has given a NoC for the merger of REC into PFC, according to a publisher summary. The reported combination would create a financing entity with an aggregate loan book of over ₹11 lakh crore. The timing of completion and any further approvals are not stated in the available reporting.
Why it matters
The RBI has reportedly cleared the PFC-REC merger by issuing a NoC. If completed, the merged financing entity would have an aggregate loan book of more than ₹11 lakh crore. That is significant for the two companies and for India’s public-sector lending landscape, but the available reporting does not state the remaining steps or timing.