REC Limited, a leading Non-Banking Finance Company (NBFC) and a Maharatna Central Public Sector Enterprise under the Ministry of Power, has achieved another milestone by winning the prestigious ‘Best Design Thinking Award’ at the 5th Distinguished NBFC (DNA) Awards organized by Banking Frontiers. The award stands as a testimony to REC’s forward-looking approach and its innovative efforts in adopting digital solutions to enhance customer experience, streamline processes, and redefine service delivery in the financial sector.
This recognition was conferred upon REC for its pioneering work in the area of Retail Bonds, where the company successfully leveraged digital platforms and design thinking principles to make financial products more accessible, transparent, and user-friendly for investors. At a time when customer expectations are shaped by digital-first experiences, REC has demonstrated its ability to combine technology with strategic thinking to ensure seamless, secure, and efficient financial solutions. The accolade also highlights the company’s commitment to continuous innovation and its proactive stance in aligning with India’s larger vision of a digitally empowered economy.
Expressing his delight at the recognition, Shri Jitendra Srivastava, Chairman and Managing Director of REC Limited, extended his heartfelt congratulations to the finance team. He commended their dedication and outstanding contributions, noting that their efforts in adopting new-age technologies and customer-focused methodologies were central to this achievement. Shri Harsh Baweja, Director (Finance), along with senior officials of the organization, also joined in celebrating the award, reflecting the collective spirit of leadership and teamwork that defines REC’s functioning. The management emphasized that the award symbolizes more than a single initiative—it reflects the company’s culture of innovation, excellence, and forward-thinking across all levels.
By encouraging employees to think creatively and embrace modern practices, REC has nurtured an environment where fresh ideas are not only welcomed but effectively implemented. This achievement is viewed as a stepping stone in the company’s broader journey of establishing itself as a global leader in power sector financing while also expanding its footprint in retail investment opportunities. The success of the Retail Bonds initiative, in particular, is seen as an indicator of REC’s potential to drive inclusive growth by opening new avenues for investors and strengthening confidence in NBFC-led financial instruments.
At the awards ceremony, the honor was received on behalf of REC by Shri Alok Singh, General Manager and CPM (Mumbai), who was joined by officials from the Finance Team. Their presence symbolized the dedication and hard work of the department whose initiatives directly contributed to this recognition. The Distinguished NBFC Awards are widely respected in the financial services sector for acknowledging excellence, innovation, and leadership, and winning in the category of Best Design Thinking places REC in the league of top-performing institutions that are setting benchmarks for the industry.
Over the years, REC Limited has consistently maintained its reputation for strong financial management, transparency, and innovation. As a Maharatna PSU, it has played a pivotal role in financing India’s power sector projects while steadily diversifying into new areas of growth. The company’s focus on investor-centric innovations such as Retail Bonds has not only provided ease of access to financial instruments but also ensured robust digital support, thereby encouraging broader investor participation. The Best Design Thinking Award further consolidates REC’s image as a pioneer in progressive business practices, highlighting its alignment with the nation’s goals of Digital India and financial inclusion.
Looking ahead, REC intends to build on this achievement by further strengthening its focus on digital transformation, sustainability, and customer-centric growth models. The organization is committed to embedding innovation in every aspect of its operations, from financing critical power projects to developing retail-friendly investment solutions. Winning the Best Design Thinking Award at the 5th DNA Awards is not just an accolade but a symbol of trust, leadership, and innovation that defines REC’s journey. It reinforces the company’s vision of not only being a financier of power and infrastructure but also a trendsetter in adopting modern practices that enhance value for customers, stakeholders, and the larger economy.