REC Limited is a Maharatna Central Public Sector Enterprise under the Ministry of Power. It has recently launched a mobile app called ‘Sugam REC’ for existing and prospective investors in REC 54EC capital gains tax exempt bonds. This mobile app will provide investors with complete details of their investments in REC 54EC bonds.
Sugam Rec Mobile App
‘Investors will be able to download their e-bond certificates, apply for new investments, download important forms related to updating KYC and also contact REC’s investor cell through call/email/Whatsapp through the Sugam REC app. Will be able to connect. The app is one of the many digital initiatives of REC.
About REC Limited
It is a non-banking financial company (NBFC), focused on financing and developing the energy sector across India. Its full name is Rural Electrification Corporation Limited. Its headquarters is located in New Delhi. REC Limited was established in 1969. It has successfully completed fifty years of operation. It provides financial assistance to State Electricity Boards, State Governments, Central/State power utilities, independent power producers, rural power cooperatives and private sector utilities. Its business activities include financing for a variety of projects across the entire energy sector value chain, including generation, transmission, distribution and renewable energy. Every fourth bulb in the country is illuminated with REC funding. Recently REC has also started working in financing the infrastructure and logistics sector. Presently Rajeev Sharma is the Chairman and Managing Director of REC Limited.
This mobile application can be downloaded for free on Android and iOS platforms from the link given below.
For Android users:
For iOS users:
Section 54EC bonds are a type of fixed income financial instrument that offers tax exemption under capital gains to investors through Section 54EC of the Income Tax Act.
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