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Mahesh

07/10/23 06:46 AM IST

‘SUGAM REC’, a mobile app for 54EC Bonds Investors

In News
  • REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has launched a mobile application, exclusively for current and future investors in REC’s 54EC .
SUGAM REC  Mobile app
  • This app is specifically designed for both current and prospective investors in REC’s 54EC Capital Gain Tax Exemption Bonds.
  • The ‘SUGAM REC’ mobile app is intended to provide investors with comprehensive information and details regarding their investments in REC 54EC Bonds.
  • It aims to enhance the accessibility and convenience of managing these investments for individuals interested in this financial product.
  • The ‘SUGAM REC’ mobile app offers a range of features to investors, including the ability to:
  • Download e-bond certificates.
  • Apply for fresh investments.
  • Download essential forms for KYC updates.
  • Connect with REC’s Investor Cell through phone calls, emails, and WhatsApp.
Section 54EC bonds
  • Section 54EC Bonds are a type of fixed-income financial instrument that provide tax exemption under capital gains to investors, under Section 54EC of the Income Tax Act.
About REC Limited
  • REC Limited is an NBFC focusing on Power Sector Financing and Development across India.
  • Established in 1969, REC Limited has completed over fifty years of operations.
  • It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.
  • Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India.
  • REC has recently diversified into financing infrastructure and logistics sector as well.
Source- PIB

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