REC First PSU NBFC to Earn ISO 31000:2018 Certification

30 Jul 2025 CW Team

REC Limited, a Maharatna Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Financial Company (NBFC), has become the first Indian public sector NBFC to receive an ‘Independent Opinion Statement’ from the British Standards Institution (BSI) for compliance with ISO 31000:2018 – the international guideline for Enterprise Risk Management (ERM).

This recognition underlines REC’s commitment to adopting global best practices in risk management. ISO 31000:2018 provides a globally accepted framework for effective risk governance and is a benchmark for structured and robust risk management systems.

Commenting on the achievement, Mr Subrata Aich, Chief Risk Officer at REC, said, “This compliance reflects REC’s structured and internationally aligned approach to risk. It reinforces stakeholder confidence, especially that of investors and lenders, in our ability to manage risk with discipline and foresight.”

The certification was formally handed over to Mr Subrata Aich by Shri Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy, and Mr Prateek Rai, India Head – Training (Sales and Operations), BSI, during REC’s 56th Foundation Day celebrations at Yashobhoomi Convention Centre, Dwarka, New Delhi.

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