Baweja's profound understanding of the intricate financial landscape within the energy sector has been instrumental in steering REC's growth trajectory and enhancing its financial performance over the years.
FinTech BizNews Service
Mumbai, May 14, 2024: Shri Harsh Baweja has assumed the charge of Director (Finance) of REC Limited, following approval by the Appointments Committee of Cabinet (ACC) on 10 May , 2024.
Shri Harsh Baweja has been appointed on the recommendation of the Public Enterprises Selection Board (PESB) , after an intensive selection process of 11 candidates , which shows that he is a highly qualified candidate for the post.
An experienced Chartered Accountant, Mr. Baweja has over 33 years of experience in managing financial and business functions across multiple organizations. With a background as a Chartered Accountant and over three decades of expertise in the financial sector, his appointment reflects his proven track record in addressing complex financial issues.
During his tenure as Executive Director (Finance) at REC, he has contributed to the organization's leadership in addressing various financial challenges reflecting his in-depth understanding of both state and private sector financing. His distinguished tenure spanned across India. It has also involved managing key business offices of REC dealing with business at important locations.
Mr. Baweja's deep understanding of the complex financial landscape of the energy sector has played a vital role in steering REC on the path to growth and taking REC's financial performance to new heights over the years.
Notably , his special efforts related to the business have been instrumental in addressing the challenges faced due to stressed assets , leading REC to achieve Net Zero NPA status by the end of the current financial year as well as renewable energy. Focusing on the sector is also making a significant contribution to the diversification of the financing portfolio.
Talking about his new responsibility, Shri Baweja said , “ My focus is to ensure low cost lending , encourage better growth for all stakeholders and help RECs in financing the renewable energy sector with zero NPA by the end of the financial year. Will remain focused on establishing itself as a leading company.”
As Director (Finance) , Mr. Baweja will manage the functions related to REC's financial strategy , ensuring continued financial excellence of the Company and facilitating work towards sustainable growth. He will play an important role in further improving REC's position as a leading company in the energy sector.
