REC becomes 1st Indian Public Sector NBFC to receive ISO 31000:2018 certification

REC Limited has been provided with ‘Independent Opinion Statement’ by BSI (British Standards Institution) for compliance with ISO 31000:2018 (Enterprise Risk management — Guidelines).

REC Limited, a Maharatna Public Sector Enterprise under the Ministry of Power, GoI and a leading NBFC, has been provided with ‘Independent Opinion Statement’ by BSI (British Standards Institution) for compliance with ISO 31000:2018 (Enterprise Risk management — Guidelines). This significant achievement marks REC as the first Indian Public Sector Non-Banking Financial Company (NBFC) to receive this accreditation from the BSI.

The ISO 31000:2018 is an internationally recognized standard that provides principles and guidelines for effective risk management. This is a testimony to our efforts of having adopted the best in class risk management practices to offer significant value to REC on the risk management front.

“This ISO 31000:2018 compliance is a testament to REC’s unwavering commitment to excellence in Enterprise Risk Management,” said Mr. Subrata Aich, Chief Risk Officer of REC. “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 official document was formally handed over to Sh. Subrata Aich by Sh. Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy and Sh. Prateek Rai, India Head – Training (Sales and Operations), BSI, during 56th Foundation Day of REC held at Yashobhoomi Convention Centre, Dwarka, New-Delhi.