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CORPORATE & BUSINESS Mergers

President Approves Merger of REC Limited with Power Finance Corporation (PFC)

The President of India has officially approved the merger of REC Limited (formerly Rural Electrification Corporation) with Power Finance Corporation (PFC).
This consolidation follows state-owned PFC's 2019 acquisition of the government's majority stake (52.63%) in REC Limited for a transaction value of Rs 14,500 crore.
The merger is expected to create a unified powerhouse for power sector financing in India, streamlining operations and lowering borrowing costs for energy transition and infrastructure projects.
Power Finance Corporation (PFC) holds Maharatna status and operates under the administrative jurisdiction of the Union Ministry of Power.

Key Facts / Static GK

PFC Chairperson & MD: Parminder Chopra
PFC Headquarters: New Delhi
PFC Founded: July 1986

Q Practice Quiz — 11 June 2026

1. Who holds the record for the longest overall tenure (including interim governments) as the Prime Minister of India?

A Narendra Modi
B Jawaharlal Nehru
C Indira Gandhi
D Lal Bahadur Shastri
E Atal Bihari Vajpayee

Explanation: Jawaharlal Nehru holds the absolute record for the longest overall tenure of 6,131 days as Prime Minister, although Narendra Modi has surpassed his record for the longest continuous, uninterrupted tenure in office.

2. In June 2026, which Indian entity secured a 10-year marine services contract worth USD 70 million, marking its entry into South America?

A Larsen & Toubro
B Adani Ports and Special Economic Zone (APSEZ)
C Tata Projects
D Jindal Steel & Power
E Reliance Infrastructure

Explanation: Adani Ports and Special Economic Zone (APSEZ) secured the 10-year contract worth USD 70 million for Argentina's first LNG export project, marking its entry into South America.

3. Which city has been integrated as the first 'spoke' city under India's newly introduced 'Easy Connect' aviation model?

A Lucknow
B Patna
C Varanasi
D Amritsar
E Guwahati

Explanation: Varanasi is the first spoke city under the 'Easy Connect' model, allowing international passengers to complete immigration and baggage formalities locally before transiting through hubs like Delhi.

4. According to the SIPRI Yearbook 2026, which country was the world's largest military spender in 2025 with an expenditure of USD 954 billion?

A China
B Russia
C United States
D Saudi Arabia
E India

Explanation: The United States was the world's largest military spender in 2025, spending USD 954 billion, according to the SIPRI Yearbook 2026.

5. The President of India recently approved the merger of REC Limited with which Maharatna PSU?

A NTPC Limited
B Power Finance Corporation (PFC)
C Power Grid Corporation of India
D NHPC Limited
E ONGC

Explanation: The President has approved the merger of REC Ltd with its parent organization, the Power Finance Corporation (PFC).

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