REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and one of India’s leading non-banking financial companies (NBFCs), has achieved a major milestone by becoming the first Indian public sector NBFC to receive the ISO 31000:2018 certification for its enterprise risk management framework. The certification has been awarded by the British Standards Institution (BSI), a globally recognised body for international management system standards.
The ISO 31000:2018 certification is a globally accepted benchmark that outlines principles and guidelines for effective risk management. By securing this certification, REC has demonstrated its adherence to internationally aligned best practices in identifying, assessing, and mitigating risks across all levels of its operations.
The official certificate was presented to REC’s Chief Risk Officer, Subrata Aich, during the company’s 56th Foundation Day celebration. The event was attended by Minister of State for Power and New & Renewable Energy, Shripad Yesso Naik, along with Prateek Rai, India Head – Training (Sales and Operations), BSI.
“This ISO 31000:2018 certification is a testament to REC’s unwavering commitment to excellence in enterprise risk management,” said Subrata Aich. “It signifies that REC has a structured, comprehensive, and globally compliant approach to risk mitigation, which will further enhance the confidence of all our stakeholders, including investors and lenders.”
As a premier financial institution in India’s power sector, REC has consistently undertaken reforms to strengthen corporate governance and risk frameworks. With a growing portfolio in conventional and renewable energy financing, the implementation of an enterprise-wide risk management system aligns with REC’s broader strategy to maintain operational resilience and regulatory compliance.
This achievement also underscores REC’s leadership role among Indian NBFCs and PSUs in adopting international standards in risk oversight. It is expected to further elevate REC’s standing with credit rating agencies, regulatory institutions, and domestic as well as global stakeholders.
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