Power lines hang over building tops in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

PFC To Buy Government’s Entire Stake In REC For Rs 14,500 Crore

The cabinet approved the sale of government’s entire 52.63 percent stake in power sector financier REC Ltd. to state-run peer Power Finance Corporation Ltd., in what will help it mop up funds to me...