REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been certified with ISO 31000:2018 (Risk management — Guidelines) for its enterprise-wide risk management framework. This significant achievement marks REC as the first Indian Public Sector Non-Banking Financial Company (NBFC) to receive this certification from the British Standards Institution (BSI).
The ISO 31000:2018 is an internationally recognized standard that provides principles and guidelines for effective risk management. This is a testimony to our efforts of having adopted the best-in-class risk management practices to offer significant value to REC on the risk management and mitigation front.
"This ISO 31000:2018 certification is a testament to REC's unwavering commitment to excellence in Enterprise Risk Management," said Mr. Subrata Aich, Chief Risk Officer of REC. "It signifies that REC has a structured, comprehensive, and internationally aligned approach to risk management, which will further enhance the confidence of all our stakeholders, including investors and lenders."
The official certificate was formally handed over to Sh. Subrata Aich by Sh. Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy and Sh. Prateek Rai, India Head – Training (Sales and Operations), BSI, during 56th Foundation Day of REC.
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