REC Limited, a prominent Non-Banking Financial Company (NBFC) specializing in Power Sector Financing and Development, announced the launch of its latest digital innovation, the ‘SUGAM REC‘ mobile application. This exclusive app has been specifically designed to cater to the needs of investors interested in REC’s 54EC Capital Gain Tax Exemption Bonds. With ‘SUGAM,’ REC aims to simplify the investment process and enhance the overall experience for both existing and prospective investors.
What are REC 54EC Bonds?
Section 54EC Bonds: These bonds are a type of fixed-income financial instrument that offers tax exemption on capital gains to investors, as per Section 54EC of the Income Tax Act. They serve as a lucrative investment option for individuals looking to minimize their tax liabilities while earning a steady income.
‘SUGAM REC’: Your One-Stop Solution
The ‘SUGAM REC’ mobile application is set to revolutionize the way investors interact with REC’s 54EC Bonds. Here are some keypoints:
1. Investment Details
Investors can access a wealth of information about REC’s 54EC Bonds, including features, benefits, and eligibility criteria. This feature empowers investors with the knowledge they need to make informed decisions.
2. E-Bond Certificates
‘SUGAM REC’ allows users to download their e-bond certificates securely through the app, eliminating the need for paperwork and ensuring easy access to essential documents.
3. User-Friendly Interface
The app provides a user-friendly interface for both new and existing investors to apply for fresh investments effortlessly.
4. KYC Forms
SUGAM REC’ offers a convenient way to download important KYC forms, making the compliance process hassle-free.
5. Connect with REC’s Investor Cell
The app allows investors to connect with REC’s Investor Cell through multiple channels, including phone calls, emails, and WhatsApp messages, ensuring prompt and efficient support.
6.Available on Android and iOS
‘SUGAM REC’ is available for download on both Android and iOS platforms. This accessibility ensures that investors from all walks of life can take advantage of this digital tool to enhance their investment experience.
About REC Limited
Founded in 1969, REC Limited has been a major player in India’s power sector financing and development. REC’s portfolio encompasses the entire power sector value chain, including Generation, Transmission, Distribution, and Renewable Energy. Remarkably, REC’s funding powers every fourth lightbulb in India.
Formerly known as the Rural Electrification Corporation Limited, REC operates as a subsidiary of Power Finance Corporation Limited (PFC), a government-owned entity under the Ministry of Power, Government of India. With over five decades of financial sector experience, REC Limited remains committed to innovation and customer-centric solutions.