REC Limited wins 2 Awards at National Leadership Summit & Awards 2026
REC Limited, a ‘Maharatna’ CPSE under the Ministry of Power and one of India’s leading NBFCs, added yet another glorious chapter to its illustrious journey by securing two prestigious national honours at the National Leadership Summit & Awards 2026. The grand ceremony, held on 27 February 2026 at the iconic Bombay Stock Exchange, Mumbai, brought together distinguished leaders from across industries to celebrate excellence in governance, finance and social impact.
In a moment of immense pride for the organisation, Shri Harsh Baweja, former Director (Finance) and Chief Financial Officer of REC Limited, was conferred the coveted “India’s Most Influential CFO 2026” award. This recognition stands as a testament to his visionary leadership, strategic acumen and steadfast commitment to financial excellence during his tenure from May 2024 to January 2026. Shri Baweja personally received the award at the ceremony, symbolising not only his individual achievement but also the strength and resilience of REC’s financial stewardship.
Under his guidance, REC Limited demonstrated remarkable financial prudence, operational efficiency and sustainable growth. His tenure was marked by a clear focus on strengthening balance sheets, enhancing investor confidence and supporting the nation’s infrastructure ambitions. The award highlights how leadership rooted in integrity and foresight can drive transformative outcomes in the public sector financial landscape. Such recognitions further elevate the stature of REC in the broader Indian Bureaucracy ecosystem, where public institutions are increasingly setting benchmarks in performance and governance.
Adding to the celebrations, REC Limited was honoured with the India CSR Initiatives & Social Impact Award for Excellence in CSR for Healthcare Access. This distinguished accolade reaffirms REC’s unwavering commitment to inclusive development and its mission to create tangible social value beyond financial metrics. The award was received on behalf of the organisation by Shri Alok Singh, Chief Program Manager, Regional Office – Mumbai, reflecting the collective efforts of the REC team in advancing impactful CSR initiatives.
REC’s healthcare-focused CSR interventions have consistently aimed at bridging access gaps, particularly in underserved and remote regions. By supporting hospitals, strengthening medical infrastructure and enabling access to quality healthcare services, REC has translated corporate responsibility into meaningful action. The recognition underscores the organisation’s philosophy that sustainable growth must be accompanied by social empowerment.
As a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, REC Limited is registered with RBI as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). Over the decades, it has evolved into a pivotal financial backbone for India’s power and infrastructure sectors. REC finances the entire power-infrastructure value chain, including Generation, Transmission, Distribution and Renewable Energy. It has also embraced emerging sectors such as Electric Vehicles, Battery Storage, Pumped Storage Projects, Green Hydrogen and Green Ammonia, reflecting its forward-looking approach.
In recent years, REC Limited has diversified into non-power infrastructure sectors, including Roads & Expressways, Metro Rail, Airports, IT & Communication, Social and Commercial Infrastructure such as educational institutions and hospitals, Ports, and Electro-Mechanical works across industries like Steel and Refineries. Through loans of varying maturities extended to State, Central and Private entities, REC continues to enable the creation of robust infrastructure assets nationwide.
The organisation has also played a key strategic role in flagship Government programmes. It has served as the nodal agency for transformative schemes such as Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA), Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) and the National Electricity Fund (NEF) Scheme—initiatives that strengthened last-mile distribution systems and achieved 100% village and household electrification. REC has further been designated as nodal agency for select States and Union Territories under the Revamped Distribution Sector Scheme (RDSS) and entrusted with implementing the PM Surya Ghar Muft Bijli Yojana.
The twin honours at the National Leadership Summit & Awards 2026 reinforce REC Limited’s standing as a beacon of financial excellence and social responsibility. They highlight how strategic leadership, institutional strength and a deep commitment to national development can together drive transformative impact. As reflected in Top Indian Bureaucracy News updates and sectoral insights, REC continues to exemplify how public sector enterprises can blend profitability with purpose, powering India’s growth story with integrity and vision.