CORPORATE & BUSINESS
Corporate Deals
REC and PFC Sign ₹26,850 Crore Consortium Loan for Meja Thermal Expansion Project
REC Limited (acting as lead financier) and Power Finance Corporation (PFC) signed a ₹26,850 crore loan deal with Meja Urja Nigam Private Limited (MUNPL).
The funding supports the Stage-II expansion of the Meja Thermal Power Project in Prayagraj district, Uttar Pradesh, featuring a capacity of 2,400 MW through three 800 MW ultra-supercritical units.
The overall project outlay stands at ₹38,357.81 crore, with REC and PFC sharing the debt financing equally in a 50:50 ratio.
MUNPL is an equal 50:50 joint venture established between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
Exam Perspective: Energy infrastructure financing agreements involving major Non-Banking Financial Companies (NBFCs) are high-frequency topics in banking exams.
The funding supports the Stage-II expansion of the Meja Thermal Power Project in Prayagraj district, Uttar Pradesh, featuring a capacity of 2,400 MW through three 800 MW ultra-supercritical units.
The overall project outlay stands at ₹38,357.81 crore, with REC and PFC sharing the debt financing equally in a 50:50 ratio.
MUNPL is an equal 50:50 joint venture established between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
Exam Perspective: Energy infrastructure financing agreements involving major Non-Banking Financial Companies (NBFCs) are high-frequency topics in banking exams.
Key Facts / Static GK
Both REC Limited (est. 1969) and PFC Limited (est. 1986) are Maharatna Central Public Sector Enterprises under the Ministry of Power, regulated by the RBI.
Practice Quiz — 4 August 2026
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Answer: (A) Monisha Chakraborty — Monisha Chakraborty was appointed as the Executive Director (ED) of the Reserve Bank of India (RBI), where she will supervise foreign exchange and financial markets regulation.
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