New Delhi | REC Limited Becomes First Indian PSU NBFC to Achieve ISO 31000:2018 Certification
REC Limited, a Maharatna Public Sector Enterprise under the Ministry of Power, Government of India, and a leading Non-Banking Financial Company (NBFC), has achieved a landmark milestone by receiving the ‘Independent Opinion Statement’ from the British Standards Institution (BSI) for compliance with ISO 31000:2018 (Enterprise Risk Management — Guidelines). With this achievement, REC has become the first Indian Public Sector NBFC to be recognized for adherence to this prestigious international risk management standard.
The ISO 31000:2018 is a globally acknowledged framework that provides structured principles and guidelines for effective enterprise risk management. This recognition reflects REC’s robust risk governance systems and its adoption of best-in-class risk management practices that align with global benchmarks.
Commenting on the achievement, 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 signifies that REC has a structured, comprehensive, and internationally aligned approach to risk management, which will further enhance the confidence of all our stakeholders, including investors and lenders.”
The formal certificate of compliance was presented during the 56th Foundation Day celebration of REC held at Yashobhoomi Convention Centre, Dwarka, New Delhi. The official document was ceremoniously handed over to Mr. Aich by Shri Shripad Yesso Naik, Hon’ble Minister of State for Power and New & Renewable Energy, Government of India, along with Mr. Prateek Rai, India Head – Training (Sales and Operations), BSI.
This recognition underscores REC’s proactive and forward-thinking risk management culture, which plays a critical role in maintaining financial resilience, regulatory alignment, and investor confidence. As REC continues to play a pivotal role in financing India’s power sector and infrastructure development, this global certification will further empower the organisation to make informed, risk-aware decisions in an increasingly complex business environment.
With this pioneering step, REC has set a new benchmark for public sector enterprises, reaffirming its leadership in governance, risk, and compliance excellence.