REC Limited, formerly Rural Electrification Corporation Limited, is engaged in other financial services and activities-other Credit granting. The Company provides finance to power sector. It finances and promotes rural electrification projects all over the country. It provides financial assistance to State Electricity Boards, State Government Departments and Rural Electric Cooperatives for rural electrification projects as are sponsored by them. It provides loan assistance to state electricity boards (SEBs)/State Power Utilities for investments in rural electrification schemes through its corporate office located at New Delhi and over 20 field units, which are located in most of the states. It has sanctioned approximately 580 transmission and distribution schemes, which include primary power evacuation schemes associated with generating plants, system improvement schemes, including feeder segregation schemes, bulk loan schemes and intensive electrification schemes.