REC Ltd. (formerly Rural Electrification Corporation Limited) has signed a performance-based ‘Memorandum of Understanding’ (MoU) with Power Finance Corporation Ltd (PFC) detailing various targets to be achieved by REC during FY 2019-20. The MoU has been signed by Shri Rajeev Sharma, CMD, PFC and Ajeet Kumar Agarwal, CMD, REC in presence of various senior officials of PFC & REC Ltd. The MoU contains various parameters relating to financial viz., Revenue from operations, Operating Profit as percentage of Revenue from Operation. PAT as % of Average Net Worth and Non-financial parameters viz., Human Resource Management and sector-specific result oriented measurable parameters.