Rural Electrification Corporation Limited (REC) is an India-based public financial institution. The Company provides interest-bearing loans to state electricity boards (SEBs), state power utilities/state power departments and private sector for development of all segments of power infrastructure. The Company has devised and continuously modifies, updates and extends loan portfolios to suit the requirements of the borrowing power utilities. The Company has been funding power generation, transmission and distribution projects besides electrification of villages. The Company’s subsidiaries include REC Transmission Projects Company Ltd. (RECTPCL), REC Power Distribution Company Ltd. (RECPD), Talcher-II Transmission Company Limited (TTCL) and North Karanpura Transmission Company Limited (NKTCL).