CCI has approved acquisition of 52% shareholding in Rural Electrification Corp. (REC) by Power Finance Corp. (PFC). The government is expected to garner around Rs. 15,000 crores from this sale process.

In December 2018, Cabinet Committee on Economic Affairs and Board of PFC gave in-principle approval for the strategic sale.

The government’s shareholding stood at 57.99 % in REC, and 65.64 % in PFC at end of September quarter. However, the government holding in REC came down to 52.63 % following stake sale through exchange-traded funds.