ECONOMY & INFRASTRUCTURE
Power & Energy
REC and PFC Sign ₹26,850 Crore Debt Pact for Meja Thermal Power Expansion
State-run NBFCs REC Limited and Power Finance Corporation executed a Common Loan Agreement worth ₹26,850 crore with Meja Urja Nigam Private Limited.
The financial assistance will fund the Stage-II expansion (2,400 MW capacity via 3x800 MW units) of the Meja Thermal Power Project in Prayagraj, Uttar Pradesh.
The project carries an estimated capital expenditure of ₹38,357.81 crore, with debt being split equally in a 50:50 ratio between REC and PFC.
Perspective: Large credit arrangements by public financial institutions ensure uninterrupted capital flow for nation-building utility projects.
The financial assistance will fund the Stage-II expansion (2,400 MW capacity via 3x800 MW units) of the Meja Thermal Power Project in Prayagraj, Uttar Pradesh.
The project carries an estimated capital expenditure of ₹38,357.81 crore, with debt being split equally in a 50:50 ratio between REC and PFC.
Perspective: Large credit arrangements by public financial institutions ensure uninterrupted capital flow for nation-building utility projects.
Key Facts / Static GK
REC Limited Headquarters: New Delhi
Power Finance Corporation Headquarters: New Delhi
Meja Thermal Power Project Location: Prayagraj, Uttar Pradesh
Power Finance Corporation Headquarters: New Delhi
Meja Thermal Power Project Location: Prayagraj, Uttar Pradesh
Practice Quiz — 5 August 2026
Q1. Which of the following statements regarding the RBI's updated Bulk Deposit Interest Rate Directions 2026 is/are correct?
Answer: (B) Both statements I and II are correct — Statement I: The framework allows differential rates on bulk deposits based on LCR run-off rates from October 1, 2026. Statement II: Commercial banks and SFBs share a bulk deposit threshold of ₹3 crore, while RRBs have a threshold of ₹1 crore.
Q2. Under the revised CGSMFI 2.0 guidelines, what is the mandatory minimum combined allocation percentage of guarantee cover reserved for small and medium MFIs?
Answer: (C) 15% — Banks must now allocate at least 15% of the total guarantee cover under CGSMFI 2.0 to small and medium-sized MFIs, replacing the previous segregated structure of 5% and 10%.
Q3. Which agency constructed the new Income Tax Department office complex 'Aayakar Sindhu' inaugurated in Mumbai?
Answer: (B) Central Public Works Department (CPWD) — The 'Aayakar Sindhu' office complex in Nariman Point, Mumbai, was constructed by the Central Public Works Department (CPWD).
Q4. Which Non-Banking Financial Company (NBFC) has partnered with Flipkart as the principal lending partner for 'Flipkart Pay Later'?
Answer: (B) PayU Finance — PayU Finance, the NBFC arm of PayU, serves as the primary licensed lender for the Flipkart Pay Later digital credit solution.
Q5. Which founding document led to the formal establishment of the Arctic Council in 1996?
Answer: (B) Ottawa Declaration — The Arctic Council was officially established in 1996 through the adoption of the Ottawa Declaration.
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