Sign In
Learn bits
Science & Tech.
Mahesh

07/10/23 06:46 AM IST

‘SUGAM REC’, a mobile app for 54EC Bonds Investors

In News
  • REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has launched a mobile application, exclusively for current and future investors in REC’s 54EC .
SUGAM REC  Mobile app
  • This app is specifically designed for both current and prospective investors in REC’s 54EC Capital Gain Tax Exemption Bonds.
  • The ‘SUGAM REC’ mobile app is intended to provide investors with comprehensive information and details regarding their investments in REC 54EC Bonds.
  • It aims to enhance the accessibility and convenience of managing these investments for individuals interested in this financial product.
  • The ‘SUGAM REC’ mobile app offers a range of features to investors, including the ability to:
  • Download e-bond certificates.
  • Apply for fresh investments.
  • Download essential forms for KYC updates.
  • Connect with REC’s Investor Cell through phone calls, emails, and WhatsApp.
Section 54EC bonds
  • Section 54EC Bonds are a type of fixed-income financial instrument that provide tax exemption under capital gains to investors, under Section 54EC of the Income Tax Act.
About REC Limited
  • REC Limited is an NBFC focusing on Power Sector Financing and Development across India.
  • Established in 1969, REC Limited has completed over fifty years of operations.
  • It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.
  • Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India.
  • REC has recently diversified into financing infrastructure and logistics sector as well.
Source- PIB

More Related Current Affairs View All

15 Nov

Government issues guidelines to curb misleading ads by coaching centres

'The central Government issued new guidelines aimed at curbing misleading advertisements by coaching institutes, specifically prohibiting false promises such as "100 per cent selec

Read More

15 Nov

Janjatiya Gaurav Divas

'Every year on November 15th, Janjatiya Gaurav Divas is celebrated to honor the contributions of these communities, especially in India’s freedom struggle.' 5th November

Read More

15 Nov

Supreme Court’s order on mandatory accessibility standards

'A bench of the Supreme Court last week ordered the Union government to frame mandatory rules for ensuring the accessibility of public places and services to persons with disabilit

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps