Sale of REC to PFC approved by cabinet

1. The Cabinet Committee on Economic Affairs has approved the strategic sale of 52.63% stake in Rural Electrification Corporation (REC) to Power Finance Corporation (PFC).
2. This deal is expected to fetch the exchequer around ₹15,000 crore.
3. This transaction will help the government meet its ₹80,000-crore disinvestment target for 2018-19.
4. The transaction will be through the acquisition route.

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