Question
Which entity received RBI's 'No Objection Certificate'
to establish a wholly owned subsidiary in GIFT City, Gujarat?Solution
REC Limited, a Maharatna CPSE under the Ministry of Power, received a ‘No Objection Certificate’ from the RBI on May 3, 2024, to establish a wholly owned subsidiary in the International Financial Services Centre (IFSC), Gujarat International Finance TecCity (GIFT), Gandhinagar, Gujarat.
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