New Delhi, August 2025 – REC Limited, a Maharatna Public Sector Enterprise under the Ministry of Power, Government of India, has achieved a landmark recognition by becoming the first Indian public sector NBFC (Non-Banking Financial Company) to comply with the globally respected ISO 31000:2018 Enterprise Risk Management Guidelines.
This recognition comes in the form of an Independent Opinion Statement issued by the British Standards Institution (BSI), acknowledging REC’s adoption of internationally benchmarked risk management practices.
The ISO 31000:2018 standard lays down globally recognized principles and frameworks for effective enterprise risk management. By aligning with these guidelines, REC has reinforced its reputation as a company that prioritizes structured risk governance, operational resilience, and stakeholder trust.
Commenting on the milestone, Mr. Subrata Aich, Chief Risk Officer of REC, said:
“This ISO 31000:2018 compliance is a testament to REC’s unwavering commitment to excellence in Enterprise Risk Management. It reflects our structured and comprehensive approach to risk governance, aligned with global best practices. This achievement not only strengthens our internal framework but also boosts confidence among our investors, lenders, and stakeholders.”
The official certificate was formally presented to Mr. Aich by Shri Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy, and Mr. Prateek Rai, India Head – Training (Sales and Operations), BSI, during REC’s 56th Foundation Day celebrations at the Yashobhoomi Convention Centre, Dwarka, New Delhi.
A Milestone in Enterprise Risk Management
With this achievement, REC sets a new benchmark for the Indian public sector by showcasing how global risk management standards can be successfully embedded into NBFC operations. This recognition highlights REC’s proactive approach to identifying, mitigating, and managing risks while ensuring long-term business sustainability.
About REC LIMITED
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
Source- https://www.outlookindia.com/announcements/news-media-wire/rec-limited-becomes-first-indian-public-sector-nbfc-to-achieve-iso-310002018-certification
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