REC Limited recently signed an MoU with PFC. Which of the following Statements about REC is/are True? I- REC Limited is an NBFC focusing on Power Sector Financing and Development across India. II- It was established in 1991 at the onset of Liberalisation. III- It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities.