New Delhi, July 29: In a landmark development, REC Limited has become the first Indian Public Sector Non-Banking Financial Company (NBFC) to be recognized as ISO 31000:2018 compliant for Enterprise Risk Management.
An official spokesperson of the company said the certification was conferred by the British Standards Institution (BSI), marking a significant stride in REC’s commitment to global risk governance practices.
The official ‘Independent Opinion Statement’ was handed over to REC’s Chief Risk Officer, Subrata Aich, by Union Minister of State for Power and New & Renewable Energy Shripad Yesso Naik and BSI India’s Training Head Prateek Rai during REC’s 56th Foundation Day celebration held at Yashobhoomi Convention Centre in Dwarka, New Delhi.
“This ISO 31000:2018 compliance is a testament to REC’s unwavering commitment to excellence in Enterprise Risk Management,” said Mr. Aich. “It validates our structured and globally aligned approach to risk, boosting confidence among stakeholders, investors, and lending institutions.”
ISO 31000:2018 is the internationally recognized standard offering comprehensive guidelines for risk identification, assessment, and mitigation across organizations. REC’s adherence to these guidelines positions it at the forefront of responsible financial governance among Indian PSUs.
A Maharatna company under the Ministry of Power, REC is a leading NBFC in the power sector financing domain. The recognition by BSI highlights the company’s integration of advanced risk practices into its business strategy — a move expected to enhance operational resilience and investor trust amid an evolving financial landscape.
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