National
REC wins Best Green Bond - Corporate Award at The Asset Triple A Awards
⇒ REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the prestigious Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.
Key Points:
- REC has received the award for issuance of $750 million USD Green Bonds in April 2023 which was also the first USD Green Bond issuance from India post India’s assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer.
- The bond issue was priced at a minimum new issue premium of 7.5 bps, which was tighter than the most recent high-rated issuances from the region.
- The issue was well received by the investors and demonstrates REC’s significant contribution to financing projects aimed at mitigating climate change and promoting environmental sustainability.
- The award underscores REC Limited’s unwavering commitment to sophisticated capital market instruments and customized financing solutions in advancing sustainable finance and fostering environmental stewardship. This recognition represents a milestone in REC Limited’s dedication to support initiatives that drive positive environmental impact and foster sustainable development.
About Asset Triple A Awards:
- The Asset Triple A Awards are a pre-eminent recognition for those organizations that have excelled in their respective industry.
- With over two decades of experience conducting awards programmes, The Asset Triple A Awards reflect unparalleled industry understanding to be able to distinguish best-in-class organizations.
- The Asset Triple A Awards programmes are built upon a stringent methodology that is combined with a rigorous approach in selecting the best institutions and deals.
- The awards are adjudicated by The Asset’s board of editors who are regarded as the most experienced and collectively have several decades’ worth of evaluating industry awards.
About REC Limited:
- REC is a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).
- REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects.
Dr. Mansukh Mandaviya launches National Dental Register of National Dental Commission
⇒ In a significant step towards dental healthcare, the Union Minister of Health and Family Welfare Dr. Mansukh Mandaviya inaugurated the new headquarters of the National Dental Commission (NDC) and laid the foundation stones for three Nursing Colleges in Andhra Pradesh and one in Jammu and Kashmir virtually, on 05 February 2024.
Additionally, Dr. Mandaviya presided over the MoU between the Dental Council of India and Quality Council of India for the assessment and rating of undergraduate dental colleges and launched the National Dental Register under the National Health Digital Mission.
» Union Health Minister emphasized with the launch of National Dental Register (NDR) created under One Nation One Register, the people of the country will get the identity and qualification of dentist in a transparent manner.
- NDR will provide Unique Identification (DCI ID) to all dentists practicing in India after verification from the respective State Dental Council.
- The NDR will also help citizens identify dentists verified by state dental councils.