Private & Confidential

Not for Circulation

54EC CAPITAL GAINS TAX EXEMPTION Bonds- SERIES-VIII

INFORMATION MEMORANDUM 28th May, 2008

RURAL ELECTRIFICATION CORPORATION LIMITED

“A NAVRATNA COMPANY”
Registered Office : Core-4, SCOPE Complex, 7, Lodi Road, New Delhi - 110 003.
Tel.: 011 - 24365161, Fax : 011-24360644, E-Mail : Bonds@recl.nic.in
Website : www.recindia.com & rec.rcmcdelhi.com

PRIVATE PLACEMENT ON “ON TAP” OF NON CONVERTIBLE REDEEMABLE

TAXABLE Bonds IN THE NATURE OF DEBENTURES OF RS. 10,000/- EACH
FOR CASH AT PAR WITH BENEFITS UNDER SECTION 54EC OF INCOME TAX
ACT, 1961 FOR LONG TERM CAPITAL GAINS-SERIES- VIII

MINIMUM APPLICATION SIZE : RS. 10,000/-

MAXIMUM APPLICATION SIZE : RS. 50,00,000/-*

HIGHLIGHTS
Highest Rating of ‘AAA Stable’ by CRISIL
Highest Rating of ‘Care AAA’ by CARE
Highest Rating of ‘LAAA’ by ICRA
Highest Rating of ‘AAA (ind)’ by Fitch
Bonds offer benefits under Section 54EC
of Income Tax Act, 1961
No Tax Deduction at Source
On Tap
Note : This information memorandum is neither a prospectus nor a statement in lieu of prospectus. This is only an information
brochure intended for private use and should not be construed to be prospectus and/or an invitation to the public for subscription
to Bonds. REC can at its sole and absolute discretion change the terms of the offer. The investors are advised to check the terms
and conditions including rate of interest prevailing at the time of applying for the Bonds.

*Subject to conditions as applicable

 DISCLAIMER
This Information Brochure is neither a Prospectus nor a statement in lieu of Prospectus. It does not constitute an offer or
an invitation to the Public to subscribe to the Capital Gains Bonds issued by Rural Electrification Corporation Limited. This
Information Brochure is not intended for distribution and is for the consideration of the person to whom it is addressed and
should not be reproduced/redistributed by the recipient. It cannot be acted upon by any person other than to whom it has been
specifically addressed. Multiple copies hereof given to the same entity shall be deemed to be offered to the same person.
The securities mentioned herein are being issued strictly on a private placement basis and this offer does not constitute a
public offer/invitation.
This Information Brochure is not intended to form the basis of evaluation for the potential investors to whom it is addressed
and who are willing and eligible to subscribe to these Bonds issued by REC. This Information Brochure has been prepared
to give general information regarding REC to parties proposing to invest in this issue of Bonds and it does not purport to con-
tain all the information that any such party may require. REC and the Arrangers do not undertake to update this Information
Brochure to reflect subsequent events and thus it should not be relied upon without first confirming its accuracy with REC.
Potential investors are required to make their own independent valuation and judgment before making the investment and are
believed to be experienced in investing in debt markets and are able to bear the economic risk of investing in the Bonds. It is
the responsibility of potential investors to have obtained all consents, approvals or authorisations required by them to make
an offer to subscribe for, and purchase the Bonds. Potential investors should not rely solely on information in the Information
Brochure or by the Arrangers nor would providing of such information by the Arrangers be construed as advice or recom-
mendation by the Issuer or by the Arrangers to subscribe to and purchase the Bonds. Potential investors also acknowledge
that the Arrangers do not owe them any duty of care in respect of their offer to subscribe for and purchase of the Bonds It is
the responsibility of potential investors to also ensure that they will sell these Bonds in strict accordance with this Information
Brochure and other applicable laws, and that the sale does not constitute an offer to the public within the meaning of the
Companies Act, 1956. Potential investors should also consult their own tax advisors on the tax implications of the acquisi-
tions, ownership, sale and redemption of Bonds and income arising thereon.

(Ajeet Kumar Agarwal)

General Manager (Finance)
Rural Electrification Corporation Limited
Dated : 28th May, 2008 New Delhi

DEFINITIONS
The Corporation/REC/Issuer Rural Electrification Corporation Limited, incorporated on July 25th, 1969 under the Companies
Act, 1956
Issue/Office/Private Placement Private Placement of Non-Convertible Redeemable Taxable Bonds with benefits under
Section 54EC of the Income Tax Act, 1961 for Long Term Capital Gains
The Act The Companies Act, 1956
The Bond(s) Non-Convertible Redeemable Taxable Bonds in the nature of the debentures with benefits
under Section 54EC of the Income Tax Act, 1961 for Long Term Capital Gains
Bondholder/Debentureholder The Holder of the Bonds
Registered Bondholder Bondholder whose name appears in the register of Bondholders maintained by the Corporation
or its Registrar (in case of investors opting for physical certificates) and beneficial owners
(in case of investors opting for demat option)
Registrars M/s. RCMC Share Registry (P) Ltd. have been appointed by REC to monitor the applications
while the Private Placement is open and co-ordinate the post private placement activities of
allotment, dispatching interest warrants etc.

Contact Address : RCMC Share Registry (P) Ltd.

B-106, Sector-2, NOIDA, U.P.-201301
Ph.: 0120-4015880-81
Fax : 0120 - 2444346
E-mail : bonds@rcmcdelhi.com
 REC 54EC BONDS-SERIES VIII

TABLE OF CONTENTS
ISSUE HIGHLIGHTS 54 EC Bonds................................................................................................................................................. 2
GENERAL INFORMATION................................................................................................................................................................ 3
AUTHORITY FOR THE ISSUE.......................................................................................................................................................... 3
ALLOTMENT...................................................................................................................................................................................... 3
BOND CERTIFICATE......................................................................................................................................................................... 3
PAYMENT OF INTEREST................................................................................................................................................................. 3
MODE OF INTEREST PAYMENT...................................................................................................................................................... 3
REFUND............................................................................................................................................................................................. 3
STATUS............................................................................................................................................................................................. 3
TAX BENEFITS UNDER THE INCOME TAX ACT, 1961.................................................................................................................. 3
DEFINITIONS-FOR THE PURPOSE OF SECTION 54EC............................................................................................................. 3-4
NO TAX DEDUCTION AT SOURCE ON INTEREST PAYABLE ON REC 54EC CAPITAL GAIN TAX EXEMPTION Bonds........ 4
TRANSFERABILITY/TRANSMISSION.............................................................................................................................................. 4
CREDIT RATING................................................................................................................................................................................ 4
LISTING............................................................................................................................................................................................. 4
REGISTRARS.................................................................................................................................................................................... 4
OBJECTS OF THE ISSUE................................................................................................................................................................. 4
Bonds IN DEMATERIALISED FORM.............................................................................................................................................. 5
LETTER OF ALLOTMENT/BOND CERTIFICATE/DENOMINATION OF Bonds............................................................................ 5
PAYMENT THROUGH ECS............................................................................................................................................................... 5
PAYMENT OF REDEMPTION........................................................................................................................................................... 5
TRUSTEES........................................................................................................................................................................................ 5
NOMINATION..................................................................................................................................................................................... 5
SUCCESSION.................................................................................................................................................................................... 5
FUTURE RESOURCE RAISING........................................................................................................................................................ 5
RIGHTS OF BONDHOLDERS........................................................................................................................................................... 5
MODIFICATION OF RIGHTS............................................................................................................................................................. 6
COMMUNICATIONS.......................................................................................................................................................................... 6
HOW TO APPLY................................................................................................................................................................................ 6
APPLICATION BY POST................................................................................................................................................................... 6
WHO CAN APPLY............................................................................................................................................................................. 6
GOVERNING LAW.............................................................................................................................................................................6
DOCUMENTS TO BE PROVIDED BY INVESTORS.........................................................................................................................6
LIST OF COLLECTING BANK BRANCHES................................................................................................................................ 7-12
A PROFILE OF RURAL ELECTRIFICATION CORPORATION LIMITED........................................................................................ 13
MANAGEMENT................................................................................................................................................................................ 14
CAPITAL.......................................................................................................................................................................................... 14
RESOURCES................................................................................................................................................................................... 14
FINANCIAL HIGHLIGHTS................................................................................................................................................................ 14
COPY OF CRISIL RATING LETTER............................................................................................................................................... 15
COPY OF CARE RATING LETTER................................................................................................................................................. 16
COPY OF ICRA RATING LETTER............................................................................................................................................. 17-18
COPY OF FITCH RATING LETTER................................................................................................................................................ 19
OFFICES OF REC........................................................................................................................................................................... 20
APPLICATION FORM FOR REC 54EC CAPITAL GAINS TAX EXEMPTION Bonds
INSTRUCTIONS FOR INVESTORS
KNOW YOUR CUSTOMER FORM
FORM NO. 60

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REC 54EC BONDS-SERIES VIII

ISSUE OF REDEEMABLE Bonds IN THE NATURE OF DEBENTURE OF Rs. 10,000/- EACH

FOR CASH AT PAR WITH BENEFITS U/S 54EC OF INCOME TAX ACT, 1961, ON PRIVATE
PLACEMENT-SERIES VIII.

on tap
ISSUE HIGHLIGHTS
CREDIT RATING ‘AAA Stable’ by CRISIL/ “LAAA” by ICRA/“CARE AAA” by CARE
‘AAA (ind)’ by Fitch Ratings
FACE VALUE Rs. 10,000/- per bond
ISSUE PRICE Rs. 10,000/- per bond
ISSUE DATE Opening : 28th May, 2008. Closing : 31st March, 2009.
MINIMUM APPLICATION SIZE One bond of Rs. 10,000/- each.
MAXIMUM APPLICATION SIZE 500 Bonds of Rs. 10,000/- each.
MODE OF SUBSCRIPTION 100% on application
CHEQUE/DRAFT TO BE DRAWN
IN THE NAME OF ‘RURAL ELECTRIFICATION CORPORATION LIMITED-54EC Bonds”
DEEMED DATE OF ALLOTMENT Last day of each month in which the subscription money is received and
credited to REC account
TENOR 3 years
REDEMPTION/MATURITY At par, at the end of 3 years from the deemed date of allotment
TRANSFER Non-transferable
TRUSTEE IDBI Trusteeship Services Ltd., Mumbai

Instrument Details
Interest payment & date Annual on 30th June
Coupon Rate 5.75% Payable annually

Please Note
1. The investor is advised to consult REC/mobilisers to the Private Placement before banking the application with
collecting branches with regard to the then prevailing terms of the Private Placement including coupon rate.
2. REC reserves right to close the issue by giving a prior notice of 5 days in any two national dailies.
3. All applications submitted but not accepted by REC would be returned by REC to the applicant, without any
interest.
4. Application for Rs 10000/- or in multiples of Rs 10000/- will be accepted.

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 REC 54EC BONDS-SERIES VIII

PRIVATE PLACEMENT STRUCTURE

GENERAL INFORMATION
Rural Electrification Corporation Ltd. (REC) is offering for subscription, on private placement basis, Non-Convertible Redeemable Taxable Bonds
(the Bonds) of the face value of Rs. 10,000/- each with benefits under Section 54 EC of the Income Tax Act, 1961 for long term Capital gains-
Series VIII.
The minimum application shall be for 1 Bonds of Rs. 10,000/- each and maximum application shall not exceed 500 Bonds. However, the aggregate
investment made/being made by applicants in the 54EC Bonds under Section 54EC of the Income Tax Act, 1961 during the financial year 2008-
09 should not exceed Rs. 50 lakh.
AUTHORITY FOR THE ISSUE
This issue is being made pursuant to the Resolution of the Board of Directors of the Company, passed at its 336th Meeting held on 28th April,
2008 and is made under appropriate provisions of the Income Tax Act, 1961.

DEEMED DATE OF ALLOTMENT/ BOND CERTIFICATES

Deemed date of allotment of Bonds will be the last day of the month during which the subscription amount has been credited to REC account.
Investors are informed that Corporation would normally process allotments pertaining to a month at the month end and that it takes around 5-6
weeks from month end to dispatch letter of advice. REC shall endeavor to make a firm allotment for all valid applications received from eligible
investors.
On completion of all legal requirements, REC will issue the Bond Certificates within 3 months from the deemed dated of allotment or such
extended period as may be decided by REC.
PAYMENT OF INTEREST ON REC 54EC Bonds
a) The interest will be payable annually on 30th June each year.
b) The interest payment on the Bonds shall be made to the registered bondholders recorded in the books of REC.
c) 1st Interest from the date of credit to REC account upto 29th June 2009 in respect of the allotments made upto 31st March 2009 will
be made on 30th June 2009.
d) The interest payment for the first and last year or part thereof beginning from the date of allotment and ending with the date of redemption
shall be proportionate (on a 365 day a year basis) and all interest on Bonds will cease on the date of redemption.
MODE OF INTEREST PAYMENT
Interest payment will be made by ECS/Cheques payable at par at such places as REC may deem fit. Efforts will be made to cover all cities where
collection centres are appointed. Cheque clearing charges, if any, will have to be borne by the bondholders. In case the cheque payable at par
facility is not available, REC reserves the right to adopt any other suitable mode of payment.
REFUND
The amount once credited in REC’s account will not be refunded. However, In case of rejection of the Application on account of technical grounds,
refund without interest will be made.
STATUS
The Capital Gains Tax Exemption Bonds Series-VIII shall be secured by a english mortgage over the REC’s immovable property and by way of
creation of charge on receivables of the REC to the satisfaction of the trustees. The Bonds will at all times rank pari passu with other creditors
(present and future) secured against the immovable property and charges on receivables of REC including the Bonds already issued and secured
and the Bonds to be issued and secured by the REC from time to time against the said immovable property and receivables of REC.
TAX BENEFITS UNDER THE INCOME TAX ACT, 1961
Under Section 54EC for REC Capital Gain Bonds
Section 54EC relating to exemption on long term capital gains if invested in Bonds was inserted by the Finance Act 2000 effective for the
assessment year 2001-2002 and subsequently amended from year to year. The section reads as follows:
“54EC of Income Tax Act, 1961 (CAPITAL GAIN NOT TO BE CHARGED ON INVESTMENT IN CERTAIN Bonds).
1) Where the capital gain arises from the transfer of a long term capital asset (the capital asset so transferred being hereafter in this section
referred to as the original asset) and the assessee has, at any time within a period of six months after the date of such transfer, invested
the whole or any part of capital gains in the long term specified asset, the capital gain shall be dealt with in accordance with the following
provisions of this section, that is to say,
a) if the cost of the long-term specified asset is not less than the capital gain arising from the transfer of the original asset, the whole of such
capital gain shall not be charged under section 45;
b) if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital
gain as bears to the whole of the capital gain the same proportion as the cost of acquisition of the long-term specified asset bears to the
whole of the capital gain, shall not be charged under section 45.
[Provided that the investment made on or after the 1st day of April 2007 in the long-term specified asset by an assessee during any financial
year does not exceed fifty lakh rupees.]
2) Where the long-term specified asset is transferred or converted (otherwise than by transfer) into money at any time within a period of three
years from the date of its acquisition, the amount of capital gains arising from the transfer of the original asset not charged under Section 45
on the basis of the cost of such long-term specified asset as provided in clause (a) or, as the case may be, clause (b) of sub-section (1) shall
be deemed to be the income chargeable under the head “Capital gains” relating to long-term capital asset of the previous year in which the
long-term specified asset is transferred or converted (otherwise than by transfer) into money.”
EXPLANATON - In a case where the original asset is transferred and the assessee invests the whole or any part of the capital gain received
or accrued as a result of transfer of the original asset in any long-term specified asset and such assessee takes any loan or advance on the
security of such specified asset, he shall be deemed to have converted (otherwise than by transfer) such specified asset into money on the
date on which such loan or advance is taken.

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REC 54EC BONDS-SERIES VIII

3) Where the cost of the long-term specified asset has been taken into account for the purposes of clause (a) or clause (b) of sub-section (1),
(a) a deduction from the amount of income-tax with reference to such cost shall not be allowed under section 88 for any assessment year
ending before the 1st day of April, 2006.
(b) a deduction from the income with reference to such cost shall not be allowed under section 80C for any assessment year beginning
on or after the 1st day of April, 2006.
Explanation. For the purposes of this section.
(a) cost, in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing
as a result of the transfer of the original asset;
(b) long-term specified asset for making any investment under this section during the period commencing from the 1st day of April, 2006 and
ending with the31st day of March, 2007 means any bond, redeemable after three years and issued on or after the 1st day of April, 2006,
but on or before the 31st day of March, 2007.
(i) by the National Highways Authority of India constituted under section-3 of the National Highways Authority of India Act, 1988 (68 of 1988);
or
(ii) by the Rural Electrification Corporation Ltd., a company formed and registered under the Companies Act, 1956 (1 of 1956),
and notified by the Central Government in the Official Gazette for the purposes of this section with such conditions (including the condition
for providing a limit on the amount of investment by an assessee in such bond) as it thinks fit:
Provided that where any bond has been notified before the 1st day of April, 2007, subject to the conditions specified in the notification, by
the Central Government in the Official Gazette under the provisions of clause (b) as they stood immediately before their amendment by
the Finance Act, 2007, such bond shall be deemed to be a bond notified under this clause;
(ba) long-term specified asset for making any investment under this section on or after the 1st day of April, 2007 means any bond, redeemable
after three years and issued on or after the 1st day of April, 2007 by the National Highways Authority of India constituted under section 3 of
the National Highways Authority of India Act, 1988 (68 of 1988) or by the Rural Electrification Corporation Limited, a company formed and
registered under the Companies Act, 1956 (1 of 1956).
Please Note :
Where the application in the Bonds is made by the investors in joint names, such joint holder(s) shall ensure that no separate application has
been made by such joint holder as an applicant singly or jointly with some other applicant and if such separate application is made, the invest-
ments made in the 54EC Bonds during the financial year 2008-09 shall not in aggregate exceed Rs. 50 lacs.
REC shall not be responsible for any consequences including denial of any benefit under Section 54EC of the Income Tax Act, 1961 that
may arise on account of multiple applications being made by the applicant either singly or along with the other joint holders such that the
investments in the 54EC Bonds during the financial year 2008-09 exceed Rs. 50 Lacs.
NO TAX DEDUCTION AT SOURCE ON INTEREST PAYABLE ON REC 54EC CAPITAL GAIN TAX EXEMPTION Bonds
Vide notification No 359/2002 dated 2nd December, 2002, REC has been exempted from deduction of tax at source under section 193 of
the Income Tax Act 1961, on the interest payable on REC 54EC Capital Gain Tax Exemption Bonds.
TRANSFERABILITY/TRANSMISSION OF Bonds
To avail the benefit under Section 54EC of the Income Tax Act, 1961, the investment made in the Bonds needs to be held for a period of at least
three years from the deemed date of allotment. The Bonds are for tenure of 3 years and therefore are NON TRANSFERABLE. However, trans-
mission of the Bonds to the legal heirs in case of death of the Bondholder/Beneficiary to the Bonds is allowed. For such transmission of Bonds
held in physical form, the legal heirs are advised to send the Bond Certificate(s) to the Registrars, along with the name, address and specimen
signature. REC and/or persons/Registrars, appointed by them for this purpose after examining and being satisfied regarding adequacy and cor-
rectness of the documentation, shall register the transmission in its books. “Succession clause at page 5 may also be referred”
CREDIT RATING
CRISIL vide its letter KK/FSR/REC/2008-09/0225 dated 23rd May, 2008 has assigned “AAA/Stable”, (Pronounced “Triple A with Stable Outlook”
rating, CARE vide its letter dated 13th May, 2008 has assigned “CARE AAA” (Pronounced as “Triple A”), ICRA vide its letter No. D/RAT/2008-
09/R7/5 dated 16th May, 2008 has assigned ‘L AAA’ (Pronounced as “L Triple A”) rating and FITCH vide its lettter dated 16th May, 2008 has
assigned ‘AAA (ind)’ (Triple A ind) rating to REC’s Long Term market borrowing programme of Rs.13000 crores for the year 2008-09. These
ratings indicate highest degree of safety with regard to timely payment of interest and principal on the instrument. Copy of the letters of Credit
Rating Agencies form part of Information Memorandum.
LISTING
The Bonds are not proposed to be listed on any stock exchange.
REGISTRARS
RCMC Share Registry (P) Ltd. has been appointed as Registrars to the Issue. The Registrar will monitor the applications while the private
placement is open and will coordinate the post private placement activities of allotment, dispatching interest warrants etc. Any query/complaint
regarding application/allotment/interest & redeemation payments/transmission should be forwarded to : RCMC Share Registry (P) Ltd., B-106,
Sector-2, NOIDA, U.P.-201301 Phone: 0120-4015880-81 Fax : 0120-2444346 e-mail : bonts@rcmcdelhi.com. All requests for registration
of transmission along with requisite documents should be sent to the Registrars.
OBJECTS OF THE ISSUE
To finance projects aimed at integrated system improvement, power generation, promotion of decentralised and non-conventional energy sources,
energy conservation, renovation and maintenance, power distribution with focus on pumpset energisation, rural household electrification and
other related work. REC has been making substantial contribution to the cause of rural electrification. To sustain this effort and as part of its fund
mobilizing program REC proposes to raise funds by way of a private placement of issue of Bonds.

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 REC 54EC BONDS-SERIES VIII

BOND IN DEMATERIALISED FROM

REC has made arrangements with National Securities Depository Limited (NSDL) and Central Deposiitory Services Ltd. (CDSL) to issue the Bonds
in dematerialised form to all successful applicants. All the provisions relating to issue, allotment, transmission, etc. in respect of dematerialisation
and rematerialisation of the Bonds as may be prescribed under the Depositories Act, 1996 and the Rules thereunder or by the NSDL/CDSL or
such similar agency, would be applicable to these Bonds. Applicants should forward the Bond(s) Certificate along with demat request through
their depository participant to the Registrar for dematerialisation of holdings.
In case any investor wishes to hold the Bonds in physical mode the investor is required to choose (tick at) the appropriate place in the Applica-
tion Form.
LETTER OF ALLOTMENT/BOND CERTIFICATE/DENOMINATION OF Bonds
REC will send by post, Allotment advice for the face value evidencing the title of the Bonds in favour of the allottees. Bond certificate shall be
issued in due course.
PAYMENT THROUGH ECS :
REC has introduced payment of interest and redemption through Electronic Clearing System as per guidelines enforced from time to time by RBI.
The investors willing to avail the facility are requested to provide the required details for this purpose in Application Form.
PAYMENT ON REDEMPTION
REC’s liability to Bondholder(s) towards all their rights including payment of face value shall cease and stand extinguished upon redemption of
the Bonds in all events. Further, REC will not be liable to pay any interest, income or compensation of any kind after the date of such Redemp-
tion of the Bond(s).
For bond(s) held in physical mode : The Bonds will be automatically redeemed by REC on maturity, without the surrender of Bond Certificate(s)
by the Bondholder, on the expiry of 3 years from the deemed date of alottment and the redemption proceeds would be paid by cheque to the
Bondholders whose names appear in the Register of Bondholders maintained by the Registrar. In case of transmission applications pending on
the record date, the redemption proceeds will be issued to the legal heirs after the confirmation of the adequacy and correctness of the docu-
mentation submitted with such application Till such time, the redemption proceeds will be kept in abeyance.
For bond(s) held in electronic mode : On the redemption date, redemption proceeds would be paid by Cheque to those bond holders whose
names appear on the list of beneficial owners given by the depository to REC. These names would be as per the depositories record on the
record date/book closure date fixed for the purpose of redemption. These Bonds will be simultaneously extinguished. It may be noted that in the
entire process mentioned above, no action is required on the part of the Bondholders.
TRUSTEES
IDBI Trusteeship Sevcies Limited, Asian Building, Ground Floor, 17, R Kamani Marg, Balland Estate, Mumbai-400001 has been appointed as
Debenture Trustees for the holder of Bonds. All remedies of the Bond holder(s) for the amount due on the Bonds will be vested with the Trustees
on behalf of the Bond holder(s). The holders of the Bonds shall without any further act or deed be deemed to have irrevocably given their consent
to and authorised the trustees to do inter-alia, all acts, deeds, and things necessary in respect of or relating to the security to be created for
servicing the Bond being offered.

NOMINATION
The Companies Act, 1956, vide Section 109A gives the bondholder an option to nominate a person to whom his bond(s) shall rest in the event
of his death. Nomination can be made only by individuals. The Karta of HUF and Power of Attorney holders cannot nominate. Nominee can
only be an individual and not more than one person can be nominated. If the applicant makes more than one Nominee the first Nominee
will be registered. Nominee shall become entitled to the bond(s) in the event of death of the bond holder on production of death certificate or
such other evidence as may be required by REC. Nomination shall be made in Form 2B under the Companies (Central Government) General
Rules & Forms, 1956.
SUCCESSION
In the event of demise of the holder(s) of the Bonds, REC will recognise the executor or administrator of deceased bondholder, or the holder of the
succession certificate or other legal representative as having title to the Bonds. REC shall not be bound to recognise such executor, administrator,
or holder of succession certificate, unless such executor or administrators obtains probate or letter of administration or such holder is the holder
of succession certificate or other legal representation, as the case may be, from a Court of India having jurisdiction over the matter. REC may
at its absolute discretion, where it thinks fit, dispense with production of probate or letter of administration or succession certificate or other legal
representation, in order to recognise such holder as being entitled to the Bonds standing in the name of the deceased bond holder(s) on production
of documentary proof or indemnity. In case of joint holding/nomination, the right shall vest in the surviving holder/nominee.
FUTURE RESOURCE RAISING
REC will be entitled to borrow/raise loans or avail financial assistance both from domestic and international market as also issue Debenture/
Bonds/Equity Shares/Preference Shares/other securities in any manner having such ranking pari passu or otherwise and on terms and conditions
as REC may think fit without the consent of or intimation to Bondholders or Trustees in this connection.
RIGHTS OF BONDHOLDERS
The Bonds shall not confer upon the holders thereof any rights or privileges including the right to receive notices or annual reports of, or to attend
and/or vote, at a General Meeting of REC. If any proposal affecting the rights attached to the Bonds is considered by REC, the said proposal will
first be placed before the registered Bondholders or trustees for their consideration.
The Bonds comprising the present Private Placement shall rank pari passu inter se without any preference to or priority of one over the other or
others over them and shall also be subject to the other terms and conditions to be incorporated in the Agreement/Trust Deed(s) to be entered
into by REC with the Trustees and the Letters of Allotment/Bond Certificates that will be issued.
A register of Bondholders will be maintained and sums becoming due and payable in respect of the Bonds will be paid to the Registered Holder
thereof.
The Bonds are subject to the provisions of the Act, the terms of this Memorandum of private placement and Application Form. Over and above
such terms and conditions, the Bonds shall also be subject to other terms and conditions as may be incorporated in the Agreement/Bond Trust

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REC 54EC BONDS-SERIES VIII

Deed/Letters of Allotments/Bond Certificates, guidelines, notifications and regulations relating to the issue of capital and listing of securities issued
from time to time by the Government of India and/or other authorities and other documents that may be executed in respect of the Bonds.
MODIFICATION OF RIGHTS
The rights, privileges and conditions attached to the Bonds may be varied, modified and/or abrogated with the consent in writing of the holders
of atleast three-fourths of the outstanding amount of the Bonds or with the sanction of the Trustees, provided that nothing in such consent or
sanction shall be operative against REC, where such consent or sanction modifies or varies the terms and conditions governing the Bonds, if
the same are not acceptable to REC.
NOTICES
The communications to the bondholder(s) required to be sent by REC or the Trustees shall be deemed to have been given if sent by an ordinary
post to the registered holder of the Bonds, as the case may be.
All communications to be given by the bondholder(s) shall be sent by registered post or by hand delivery to the Corporation or to such person
at such addressess as may be notified by REC from time to time.
OTHER TERMS
(a) The application shall be treated as cancelled where a Cheque/DD rendered by the applicant is dishonoured and the collecting bank will
intimate the applicant. The applicant will have to surrender the temporary receipt to the collecting bank.
(b) Only one Bond Certificate will be issued against each application.
(c) Claims for premature redemption of the Bonds will not be entertained.
HOW TO APPLY
Investors are required to submit the Application Form duly filled alongwith necessary enclosures at the specified Collecting Bankers as indicated
in the Information Memorandum under “List of Collecting Bank Branches”.
The investor must complete the application for the Bonds in the prescribed form, and in block letters in English. The complete Application Form
must be accompanied by either a Demand Draft or crossed Cheque of the amount as desired by the investor and made payable in favour of
“Rural Electrification Corporation Limited - 54EC Bonds”. Demand Draft charges, if any, shall be borne by the applicant.
Cheques/Demand Drafts may be drawn at any collection centre (as mentioned in the Information Memorandum) where application form is being
deposited.

APPLICATION BY POST
The applicant, if they so desire, may forward their applications through post to any of the controlling branches of the collection bankers as given
below, provided they are accompanied with a Demand Draft payable at New Delhi for the application amount as to reach during such period
when the issue is open for subsciption.
Canara Bank HDFC Bank Ltd.
Capital Market Services Branch B-6/3, Safdarjung Enclave,
Jeevan Bharti Bldg., Sansad Marg, DDA Commercial Centre,
New Delhi-110 001. Opp. Deer Park, New Delhi-110 029.
Tel. No.011-2335664,23705607 Tel. No.011-41392152,41392163
WHO CAN APPLY
  1. Individuals   2. Hindu Undivided Families (HUF)
  3. Partnership firm   4. Insurance Companies
  5. Companies and Body Corporates   6. Provident Funds, Superannuation Funds and Gratuity Funds
  7. Banks   8. Mutual Funds
  9. FIs 10. Foreign Institutional Investors (Subject to existing regulations)
11, RRBs 12. NRIs investing out of NRO A/c on non-repatriable basis
13. Co-operative Banks 14. Other eligible categories
DOCUMENTS TO BE PROVIDED BY INVESTORS OTHER THAN INDIVIDUALS (IN ADDITION TO THE DOCUMENTS TO BE PROVIDED
WITH KNOW YOUR CUSTOMER FORM)
1) Partnership Firms : A certified true copy of : (i) Documentary evidence of authorization to invest in the Bonds and to receive the money on
redemption, if the same is not provided in the Partnership deed and (ii) Specimen signature of authorized signatories.
2) Companies and Body Corporates, Financial Institutions, Foreign Institutional Investors : A certified true copy of (i) Board resolution authorizing
investment and containing operating instructions and (ii) Specimen signatures of authorized signatories.
3) Banks : A certified true copy of (i) Power of Attorney and (ii) Specimen signatures of authorized signatories.
4) Provident Funds, Superannuation Funds and Gratuity Funds : (i) Resolution passed by the competent authority authorizing the investment
and (ii) Specimen signatures of the authorized signatories.
5) Mutual Funds : A certified true copy of (i) SEBI registration certificate; (ii) Resolution passed by the competent authority authorizing the
investment and containing operating instructions and (iii) Specimen signatures of the authorized signatories.
DOCUMENTS TO BE PROVIDED BY ALL INVESTORS
1. Self attested copy of PAN Certificate (In case of Joint application, self attested PAN copy of all the applicants) or Form 60 where bond application
size is Rs. 50,000/- or more
2. Photo Copy of cancelled Cheque for ECS facility
GOVERNING LAW
The Bonds are governed by and shall be construed in accordance with the existing laws in India. Any dispute arising thereof will be subject to
the jurisdiction of courts at Delhi.

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 REC 54EC BONDS-SERIES VIII

LIST OF COLLECTING BRANCHES

The following branches of Canara Bank & HDFC Banks shall act as collecting branches to the Private Placement:
AGRA (UP) Canara Bank : Belanganj, Agra - 282004 • HDFC BANK : Shop No. F3/3-A First Floor, Friends Plaza, Sanjay
Place, Agra - 282 002
AHMEDABAD (GUJ) Canara Bank : Capital Market Ser Br. Ground Floor Narin Chamber Asram Road Ahmedabad, 1, Girukunj
Coop Hsng Society New Sharda Main Road Ahmedabad 380007, PB No. 4035, Near Police Station Navrangpura,
Ahmedabad 380009 , Maninagar Branch, Avishanand Aptts Behind Sindi Market Ahmedabad 380008, Azad
Society Po Old Sachivalya Ahmedabad 380015 • HDFC BANK : Hdfc House, 2nd Floor, Nr Mithakali Six Roads,
Navrangpura, Ahmedabad - 380 009
Ahmednagar (MAH) Canara Bank : Burudgoan Road, Ahmednagar - 414001 • HDFC BANK LTD. : Amber Plaza, Bldg. No. A,
Near Old St Bus Stand, Opp. Adcc Bank, Sahakar Gruh, Ahmedngar - 4 14 001
AJMER (RAJ) Canara Bank : M G Marg, Ajmer- 305001 • HDFC BANK LTD.: AMC No13/10&14/0, Near Suchana Kendra,
Adjacent To Swami Complex, Ajmer - 305 001 ( Raj)
AKOLA (MAH) Canara Bank : M.G.Road, Akola-444001 • HDFC BANK LTD. : Sethi Heights, Opp to Collector Office, Z P
Road, Akola - 444 001
ALIGARH (UP) HDFC BANK LTD .: 3-31 6 Ramghat Road, Near Devi Tray Hospital, Aligarh-202001.
ALLAHABAD (UP) HDFC BANK LTD. : Plot No 54/01, Sardar Patel Marg, Civil Lines, Allahabad- 211 003, up
ALWAR (RAJ) HEDFC BANK LTD.: Bhagat Singh Circle, Road No. 2, Alwar-301001
Ambala (HAR) Canara Bank : Cantonment, Ambala - 133001 • HDFC BANK LTD. : Nichalson Road, Shingar Palace
Ambala
AMRELI HDFC Bank Ltd. : 2 Manekpura, Station Road, Amreli-365601
AMRAVATI (MAH) Canara Bank : Patel Market Opp.Kotwali Amrawati-444601 • HDFC BANK LTD. : Rasik Plaza, Jay Stambh
Square, Morshi Road, Amravati - 444 601
AMRITSAR (PB) Canara Bank : D S Market, Amritsar- 143001 • HDFC BANK LTD. : 1st Floor, R.S. Tower, Hall Bazar,
Amritsar-143001
Anand (GUJ) Canara Bank : Near Old Power House, Station Road Pb No 59 Anand -388001 • HDFC BANK LTD.: 1st Floor,
Sanket Tower, Opp. Anand Arts College, Grid Road, Anand - 388001
ANKKLESHWAR (GUJ) HDFC BANK LTD. : s a Motors Bldg, Ankleswar-395 002
ASANSOL (WB) HDFC BANK LTD.: CMS Dept., P C Chaterjee Market, G.T. Road, Rambhandu Tala, Asansol-713303
Aurangabad (MAH) Canara Bank : Shagunj, Aurngabad - 431001 • HDFC BANK LTD. : Shivani Chambers, Manjeet Nagar, Jalna
Road, Opp. Akashwani, Auranagabad - 431 001
BALASORE HDFC BABK LTD.: C/o Bharat Motors, F.M. Circle, Balsore-756001.
BANGALORE (KAR) Canara Bank : Town Hall Branch, Stock Exchange Tower 1st Cross JC Road , Bangalore - 560027, PB No.
1161, Jayanagar 4th Block Bangalore 560011, PB No 493, 180/1, Gandhi Bazar Basavangudi, Bangalore - 560004,
19/7, Cunningham Road, Bangalore 560052, 88, M.G. Road, Cantonement, Bangalore 560001, C 269, Industrial
Estate, Peenya, Bangalore 560058 • HDFC BANK LTD. : No. 8/24 Salco Centre, Richmond Road, Bangalore -
560 025.
Bardoli (GUJ) HDFC BANK LTD. : Shree Ambika Niketan Temple, Bardoli-394601.
BARIELLY (U.P..) Canara Bank : Main Branch, Civil Lines Bareilly - 243005 • HDFC BANK LTD.: 154, Krishna Palace, Civil Lines,
Barielly-243001.
BARODA HDFC BANK LTD : 5th Floor, Midway Heights Next To Panchmukhi Hanuman Temple, Lokmanya Tilak Road,
Kirti Mandir, Near Kala Ghoda, Raopura Baroda - 390 001
BATALA HDFC BANK LTD : Scf 173-174 Jalandhar Road Batala - 143 505
BEGUSARAI HDFC BANK LTD : Kachari Chowk Begusarai - 851 101
BELGAUM HDFC BANK LTD : 3rd Floor , Khimjibhai Complex, Belgaum - 590 006
BHAGALPUR HDFC BANK LTD : Khalifa Bagh Chowk, Triveni Apartments, Dr R P Road, Bhagalpur - 812 002
Bharuch (GUJ) Canara Bank : Blue Chip Complex, Sewashram Road Bharuch 392001, Gujrat • HDFC BANK LTD. : Near
Octori Naka, Link Road, Bharuch - 392 001
BELGAUM (KAR) CANARA BANK : Khade Bazar, Belgaum • HDFC BANK LTD. 4830/28A Opp. Distt. Hospital, Dr. Ambedkar Road,
Belgaum-590002.
Bhatinda (PB) Canara Bank : The Mall Bhatinda-151001 • HDFC BANK LTD. : 3027-B, Guru Kanshi Marg, Nr. Bus Stand,
Bathinda. 151001
BHAVNAGAR (GUJ) HDFC BANK LTD. : Gopi Arcade, Opp. Takhteshwar Post Office, Bhavnagar -364001
BHILWARA (RAJ) HDFC BANK LTD. : 2-3-4, S.K.Plaza Complex, Pur Road, Bhilwara-311001.
BHILAI (MP) Canara Bank : Sector 6,Near B, Market Bhili 490006 • HDFC Bank Ltd. : Chauhan Estate, G.E. Road, Supela,
Bhilai-490023.
Bhiwadi (RAJ) HDFC BANK LTD. : SP 54 Ashiana Arcade, Riico Industrial Area, Bhiwadi-301019.
BHIWANI HDFC BANK LTD : S 175 D Meham Chowk, Bhiwani - 127 201
BHOPAL (MP) Canara Bank : Berasia Road Bhopal - 462001 • HDFC BANK LTD. : Service Branch , 1st Floor , Z-1, Zone 1,
M P Nagar, Bhopal - 462 011.
BHUBANESHWAR (ORI) Canara Bank : Bapuji Nagar, Janapath , Bhubaneshwar-751009 • HDFC BANK LTD. : Hotel Jajati Comlex,
Master Canteen Square, Bhubaneswar-751 001

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REC 54EC BONDS-SERIES VIII

Bhuj (GUJ) HDFC BANK LTD. : 101/102 Sunrise Tower, Vijay Nagar Society, Hospital Road, Bhuj - 370 001
BHUSAVAL (MAH) HDFC BANK LTD : Mansingh Complex , C.T.S No 3294, H No 4 / 285 , Jamner Road, Opposite Csm Complex
Bhusaval - 425 201
BIKANER (RAJ) HDFC BANK LTD : Roshan Plaza, Rani Bazar, Bikaner - 334 001
BILASPUR HDFC BANK LTD : A - 99 Link Road, Near Agrasen Chowk , Bilaspur C.G, Bilaspur - 495 001
BOKARO HDFC BANK LTD.: B9, City Centre, Sector IV, Bokaro Street City-827004.
BURDWAN (WB) HDFC BANK LTD. : 45 G.T. Road, Birhata, Budwan-713001.
Calicut (KER) Canara Bank : Cherooty Road, Calicut - 673001 • HDFC BANK LTD. : 3rd Floor , Simax Tower, Kannur Road,
Nadakkavu, Calicut - 673 001
CHALAKUDY (KER) HDFC BANK LTD. : Police Station Road, Chalakudy-680307.
CHANDIGARH (UT) Canara Bank : Sector 17C, Chandigarh - 160022 • HDFC BANK LTD. : SCO-371-372, Sector-35 B, Chandigarh-
160034.
CHANGARACHERRY(KER) HDFC BANK LTD.: CMS Dept., Gold Tower, M.C. Road, Vezhakattiuchira, Changaracherry-686101.
CHENGANNUR (KER) HDFC BANK LTD.: Govt. Hospital Junction, Chengannur-689121.
CHENNAI (TN) Canara Bank : Mount Road, Chennai - 600002, 150, Habibullah Road, T Nagar Channai-600017, Plot No A-12
& 13, Anna Nagar East ( Ii Avenue) Chennai -600102, 563/1, Anna Salai ( Gf) Teynampet, Chennai-600018 •
HDFC Bank Ltd. : Mariam Centre, Ground Floor, 751 B, Anna Salai, Chennai-600 002
Cochin (KER) HDFC BANK LTD. : 1st Floor, S M Plaza, Palarivattom, Cochin-682025.
COIMBATORE (TN) Canara Bank : Oppankara Street. Coimbatore - 641001 • HDFC BANK LTD. : # 1635 Classic Tower, Trichy
Road, Coimbatore - 641 018
CURCHOREM (GOA) HDFC BANK LTD.: Cms Dept., Mopkar Chamunda, Ground Floor, Nr. Post Office, Curchorem-403706
CUTTACK (ORI) HDFC BANK LTD. : Bajakabati Road, Cuttack- 753001, Orissa
DAHANU (MAH) HDFC BANK LTD. : Matru Ashish, Ground Floor, Irani Road, Dahanu Road, Dahanu - 401 602
Daman (UT) HDFC BANK LTD. : arc Shoping Mall, Dilip Nagar, Teen Batti, Daman - 396 210
DARBHANGA (BIHAR) HDFC BANK LTD : Natraj Bhawan, Tower Chowk, Darbhanga - 846 004
DAVANGERE (AP) HDFC BANK LTD : No 621, Bhm Enclave, Binny Co Road , Mandipet, Davangere - 577 002
DEHRADUN (UTR) Canara Bank : R P Road, Dehradun - 248001 • HDFC BANK LTD. : 56, Rajpur Road, Dehradun - 248 001.
DELHI (UT) Canara Bank : Capital Market Service Branch,Jeevan Bharti Building Sansad Marg New Delhi 110001, South
Extension Part 1 New Delhi, Kaisons House, Chandni Chowk, Fatehpuri Delhi -110069, E-1, Rajouri Garden New
Delhi 110027, 18, Comminity Centre Central Market, Ashok Vihar Delhi 110052, Pocket A, CS Centre, Mayur
Vihar, Phase 2, Delhi 110091 • HDFC BANK LTD. : F-3/6 Krishnagar, Delhi 110051, D-9, South Ext Part II, New
Delhi-110049, Block No 5, Garg Trade Centre, Sector 11, Rohini, New Delhi-110085, 4/8 Main Road, Roop Nagar,
Near Shakti Nagar Chowk, Delhi-110007, 1st Floor, Kailash Bldg, 26 KG Marg, New Delhi - 110 001
DEOGARH HDFC BANK LTD : Assam Access Road, New Tower Chowk, Deogarh - 814 112
DHANBAD (JHA) HDFC BANK LTD. : Sri Ram Plaza, 1st Floor, Bank More, Dhanbad, Jharkhand - 826 001
DHARAMSALA (HP) HDFC BANK LTD : 363 / 6 Centre Point, Civil Lines, Dharamsala - 176 216
DHULE (MAH) HDFC Bank Ltd. : Lane No. 6, Mundada Arcade, Parola Road, Dhule-425001
DURGAPUR (WB) Canara Bank : 136, RH Benachitty Durgapur-713213 WB • HDFC BANK LTD. : A102 & 103, City Centre,
Bengal Shristi Complex, Durgapur- 713 216
ERODE (TN) HDFC BANK LTD.: 456, Brough Road, Erode-638001.
ERNAKULAM (KER) Canara Bank : Broadway, Ernaculum-682031
Faridabad (HAR) Canara Bank : Nehru Grounds, Nit Faridabad - 121001 HDFC Bank Ltd. : 5-R2, Badshah Khan Chowk, NIT
Faridabad
FAZILKA (PB) HDFC BANK LTD : MC 594, Gaushala Road, Fazilka - 152 123
Ferozepur (PB) HDFC BANK LTD : CMS DEPT, Bdg 307 / 7, The Mall, Ferozepur City-152002
Gandhidham (GUJ) HDFC Bank Ltd. : Plot No. 1 Sector 8, Rabindranath Tagore Road, Gandhidham - 370 201
GAYA (BH) HDFC BANK LTD.: Near Ganta Ghar, K.P. Road, Gaya-823001.
GONDAL (GUJ) HDFC Bank Ltd. : Ground and First Floor, College Chowk, Next to Central Bank of India, Gondal-363011
GORAKHPUR (UP) HDFC BANK LTD. : CMS Dept., Prahlad Rai Trade Centre, Syodhya Crossing, Bank Road, Gorakhpur-273001.
Guntur (ap) HDFC Bank Ltd. : 87-90, Main Road, Lakshmipuram, Guntur-522007.
GURDASPUR (PB) HDFC Bank Ltd. : CMS Dept., Sector 1 & 2, Shopping Complex, Improvement Trust Market, Hanuman Chowk,
Gurdaspur-143521
GHAZIABAD (UP) Canara Bank : Maliwara Chowk, Ghaziabad • HDFC Bank Ltd. : C-29 RDC, Raj Nagar, Ghaziabad - 201 001
GWALIOR (MP) Canara Bank : Dal Bazar Tiraha, Lashkar Gwalior -474009 • HDFC Bank Ltd. : Block GI, Plot No. 43, Anand
Deep Building, City Centre, Gwalior-474011, Anand Deep Building, City Center, Gwalior.
GUWAHATI (ASSAM) Canara Bank : Fancy Bazar, Guwhati-781001 • HDFC Bank Ltd. : Fancy Bazar Branch-WBO, Mishra Complex
Road, Guwahati-781001
GURGAON (HAR) Canara Bank : Old Railway Road Gurgaon - 122001 • HDFC Bank Ltd. : A/2 Shopping Mall, Dlf Phase 1,
Gurgoan, SCO15, Sector 14, Gurgaon-122001
HALDWANI HDFC Bank Ltd. : 8/6, Nainital Road, Bhotia Prao, Haldwani-263141
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 REC 54EC BONDS-SERIES VIII

HAMIRPUR HDFC BANK LTD : Hotel Paradise, New Road National Highway - 88, Hamirpur - 177 001
HAZARIBAGH HDFC BANK LTD : Annada Chowk, Guru Gobind Singh Road, Hazaribagh - 825 301
HAJIPUR HDFC Bank Ltd. : Vimal Complex, Dak Banglow Complex, Opp. T.V S Showroom, Hajipur-844101
HIMATNAGAR HDFC Bank Ltd. : G.F. Shop No. 5-8 & First Floor 4-9, Kumar House, Durga Oil Mill Compound, Himatnagar-
383001
HISAR HDFC Bank Ltd. : Plot No 3 - 4, Mca Area Railway Road Hisar - 125 001
HUBLI (KAR) Canara Bank : Traffic Island, Hubli - 580029
HISSAR (HAR) Canara Bank : Kamla Nagar, Facing Red Square Market Hissar 125001 • HDFC Bank Ltd.: Sco 170, Red
Square Market, Commercial Urban Estate, Hissar
HYDERABAD (AP) Canara Bank : Abid Road, Hyderabad - 500001, M J Market, Hyderabad - 500001 • HDFC Bank Ltd. : 6-1-73
3Rd Floor Saeed Plaza, Lakdikapul, Hyderabad - 500 004
ICHALKARANJI HDFC BANK LTD : House No 7 - 55, Main Road, Janata Chowk, Ichalkaranji - 416 115
HOSHIRAPUR (PB) Canara Bank : Jalandhar Road, Phagwara Chowk Hoshiarpur-146001 • HDFC Bank Ltd. : sco 1-2-3
Scheme No. 11, Improvement Trust Market, Chandigargh Roadm Hoshiarpur - 146 001
HOSPUR HDFC Bank Ltd. :No. 24 & 25, Maruthi Nagar, Near Dharga, Sipcot PO, Hospur-635126
HUBLI HDFC Bank Ltd. : T V Revankar Complex, Vivekanand Hospital Road, Hubli-580029.
INDORE (MP) Canara Bank : M G Road, Indore-452002 • HDFC Bank Ltd. : 3rd Floor, 9/1A, U.V. House, South Tukonj,
Indore-452001
IRINJALAKUDA HDFC Bank Ltd. : Ushus Complex, Main Road, West Tana Road, Irinjalakuda-680121
JALGAON (MAH) Canara Bank : Cts 1982 Visanjinagar, Zinhapeth Jagaon 425001 • HDFC Bank Ltd. : Plot No. 134/135,
DSP Chowk, Facing Mahal Road, Jalgaon-425001
JALANDHAR (PB) HDFC BANK LTD.: 911, Near Narinder Cinema, G.T. Road, Jalandhar-144001 • Canara Bank : Bmc Chowk,
Jalandhar - 144103
JAMMU (JK) Canara Bank : Karan Bhavan, Shalimar Road Jammu- 180001 • HDFC Bank Ltd. : cb 13, Rail Head,
Commercial Complex, Gandhi Nagar, Jammu Tawi-180001
JAGRAON HDFC BANK LTD.: 368 B, Kapoor Building, Tehsil Road, Jagraon-142026
JHANSI (UP) Canara Bank : Civil Lines, Jhansi - 282001
JIND HDFC BANK LTD : SCF - 5, Near Rani Talab, Jind - 126 102
JODHPUR (RAJ) Canara Bank : Jalori Gate, Jodhpur-342001 • HDFC Bank Ltd. : Plot No. 57/B, 9th Chopasani Road, Jodhpur-
343003
JAIPUR (RAJ) CANARA BANK : M I Road, Jaipur-342001 • HDFC BANK LTD.: 1st Floor, o-10, Ashok Marg, Ahimsa Circle,
C-Scheme, Jaipur-302001
JAMSHEDPUR (JHA) HDFC Bank Ltd. : C/o Mithila Motors Ltd., Near Ram Mandir, Bistupur, Jamshedpur-831001
Jabalpur (MP) HDFC Bank Ltd. : 1702, Naiper Town, Model Road, Jabalpur-482002
Jamnagar (GUJ) HDFC Bank Ltd. : Plot No. 6 Park Colony, Opp. St. Ann’s School Bedi Bunder Road, Jamnagar 361 008
JUNAGADH (GUJ) HDFC Bank Ltd. : Moti Palace, Ground Floor, Opp. Raiji Nagar, Junagadh - 362 001
KADI HDFC Bank Ltd. : Radhashwami Complex, R.S. No. 242, Nr. N.C. Desai Petrol Pump, Highway Char Rastha,
Kadi-383715
Katni (Mp) CANARA BANK : Naswaran Compound, 1st Floor Malviyaganj Katni -483501
KAITHAL HDFC BANK LTD : 1450-1451-A/4, Ambala Road, Near Pehowa Chowk, Kaithal - 136 027
KALYANI HDFC Bank Ltd. : B-7/40 & 41(S) Central Avenue West Central Park, Kalyani-741325
KANGRA HDFC BANK LTD : Opp Government Polytechnic, Kangra (H.P) - 176 001
KANNUR HDFC Bank Ltd. : CMS Dept., KVR Towers, South Bazar Road, Kannur-670002.
KANPUR (UP) Canara Bank : Main Branch, The Mall Kanpur - 208001 • HDFC Bank Ltd. : Navin Market Branch, 15/46
Civil Lines, Kanpur-280001
KOLKATA (WB) Canara Bank : NS Road, Kolkatta-700001 • HDFC BANK LTD. : Abhilasha II, 6, 1st Floor, 6 Royd Street,
Kolkatta-700016
KOTA (RAJ) Canara Bank : Saraswathi Colony, Baran Road, Kota-342001 • HDFC Bank Ltd. : Show Room No-13-14,
Main Jhalawar Road, Kota-324007.
KOTKAPURA HDFC BANK LTD : B -X/740 Faridkot Road, Kotkapura - 151 204
KARNAL (HAR) HDFC Bank Ltd. : Sco 778-779, Opp Mahabir Dal Hospital, Kunjpura Road, Karnal-132001
KARUR HDFC BANK LTD : 126 / D / E , Anna Plaza, Kovai Road, Karur - 639 002
Kakinada (AP) Canara Bank : Jawahar Street, Kakinada - 533001
KHANNA HDFC Bank Ltd. : Opp. Bus Stand, G.T. Road, Khanna-141401
Kalka (HP) HDFC Bank Ltd. : Opp Sophia Convent Schoo, National Highway, Kalka - 133 302
Kapurthala (PB) HDFC Bank Ltd. : MGN School, Mall Road, Kapurthala415110
Karad (MAH) HDFC Bank Ltd. : Near Hotel Sangam, Pune-Bangalore Highway, Karad - 415 110
Kolhapur (MAH) Canara Bank : C-Ward Laxmi Road, Kolhapur-416002 • HDFC Bank Ltd. : Gem Stone, Raosaheb Vichare
Complex, 517, E Ward, New Shahupuri, Near Central Bus Stand and Park, Kolhapur-416001

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Kottyam (KER) Canara Bank : Kmc 9/560, PB 122 Kk Road, Kottyam -686001 • HDFC Bank Ltd. : Unity Building, Opp MIDC
Centre, K.K. Road, Kottayam - 686 002
KURUKSHETRA (HAR) HDFC Bank Ltd. : CMS Dept, Shop No. 1 to 5, Kalawati Market, Railway Road, Kurukshetra-136118
LATUR (MAH) HDFC Bank Ltd. : Shri Prabha Arcade, Shope No. 3-6, M.G. Road, Near Parishad, Opp. Town Hall, Latur-413512
LUDHIANA (PB) Canara Bank : Court Road, Ludhiana - 141008 • HDFC Bank Ltd. : Cms Deptt, 5th Floor, Mall Road,
Ludhiana-141001.
LUCKNOW (UP) Canara Bank : 32-M.G.Road Hazarat Ganj Lucknow-226001 • HDFC Bank Ltd. : Pranay Tower, Darbari Lal
Sharma Marg, Beside Pratibha Cinema, Lucknow-226001, 31/31, M G Marg, Hazratganj, Lucknow
MADURAI (TN) Canara Bank : Grand Central, Madurai - 625008 • HDFC Bank Ltd. : Nithtya Kalyani Towers, No 34,
Krishnayar Tank Street, No . 8, North Veli Street, Madurai - 625 001
MANDI GOBINDGARH HDFC Bank Ltd. : Hukum Chand Bansal Building, Main Post Office Road, Mandi Gobindgarh-147301
MANJERI (KER) HDFC Bank Ltd. : Cms Dept., Kurikal Plaza, Bldg., #20/1245 Kacheripa, Malapurram Road, Manjeri-676121
MANGALORE (KAR) Canara Bank : Hampanakatta, Mangalore - 575001 • HDFC Bank Ltd. : M.N. Towers, Kadri, Mangalore - 575 002
MEERUT (UP) Canara Bank : Abu Lane- Meerut - 250001 • HDFC Bank Ltd. : 381 Western Kachery Road, Meerut-250001.
MEHSANA (GUJ) HDFC Bank Ltd. : Prabhu Complex, Near Raj Kamal Petrol Pump, Abhu Highway, Mehsana-384002
MUMBAI (MAH) Canara Bank : Capital Market Service Branch,11 Homji Street,Fort Mumbai 4000001, G.D. Somani Bdg. Cuffe
Parade Mum,Bai-400005, C Wing, Gf Mittal Towers, Nariman Point Branch Mumbai-400021, Dayanand Saraswati
Marg Chembur Mainmumbai 400071, Laxmi Nagar Shoping Centre Sv Road, Malad Westmumbai-400064 • HDFC
Bank Ltd. : Maneckjiwadia Bldg., Nanik Motwani Marg, Mumbai - 400 023
MUZZAFARNAGAR (UP) Canara Bank : Main Branch, G T Road, Muzaffarnagar - 252002 • HDFC BANK LTD : 53/4 -A Bhag Kambal
Wala, Jansat Road, New Mandi, Muzaffarnagar - 251 001
MORADABAD (UP) Canara Bank : MaIn Branch, Station Road Moradabad - 244001 • HDFC Bank Ltd. : Chaddha Shopping
Complex, GMD ROad, Moradabad-244001
MORVI (GUJ) HDFC Bank Ltd. : OM Shopping Centre, Revapur Main Road, Morvi-363641
Moga (PB) HDFC Bank Ltd. : G.T. Road, Opp. D.C. Office, Moga-141001
MaPuSa (GOA) Canara Bank : Khalap Bldg, Opp New Muncipal Mkt Mapusa 403507 Goa • HDFC Bank Ltd. : S-1/2 Ground
Floor, Cosmos Towers, Near Govt Bldg Complex, Mapusa, Goa-403507
MARGAO (GOA) CANARA BANK : Kamat House, South Goa -403601. • HDFC Bank Ltd. : Ranghavi Building, Opp. Municipality
Garden, Dr. George Barette Road, Margoa-403601.
MATHURA (UP) HDFC Bank Ltd. : cms Dept., Ops Bsa College, Gaushala Road, Mathura-281001
MUZAFARPUR (BIH) HDFC Bank Ltd. : Above Maruti Showroom, Choti Saria Ganj, Muzzafarpur - 842 001 • CANARA BANK : P.B.
No. 63, Moti Jheel, Muzafarpur-842001.
Mysore (KAR) Canara Bank : 40, New Status Square Mysore - 570001 • HDFC Bank Ltd. : Mythiri Arcade, 1st Main,
Saraswathipuram-Mysore-57009, Mysore - 570 009
NABHA (PB) HDFC Bank Ltd. : sco 14015, Patiala Gate, Nabha-147201
NAGPUR (MAH) Canara Bank : Sadar Bazar, Nagpur - 440001 • HDFC Bank Ltd. : 303 & 304, 3rd Floor, Wardh Road, 12,
Milestone, Near Lokmat Square, Nagpur-440 010
NASIK (MAH) Canara Bank : Hotel Raj Jail Road,Nasik-422101 • HDFC Bank Ltd. : Archit Centre, 3rd Floor, Chandak Circle
Link, Opp. Sandeep Hotel, Near Mahamarg Bus Stand, Nasik - 422 002
NOIDA (UP) Canara Bank : Sector-1 C-3 Noida-201301 • HDFC Bank Ltd. : D 118, Sector 26, Noida -201301 (U.P)
NADIAD (GUJ) CANARA BANK : Near Santosh Hotel, Tip Top Chemical Rd. Sant Ram Rd. Nadiad-307001 • HDFC Bank Ltd.:
Shoot out Bldg, Nadiad Ice Factory Compound, College Road, Nadiad- 387 001
Navsari (GUJ) HDFC Bank Ltd. : Nandini Complex, Ground Floor, Station Road, Sandh Kuva, Navsari-396445
NAWANSHAHAR HDFC Bank Ltd. : b1/48, Banga Road, Nawanshahar-144514
NELLORE HDFC Bank Ltd. : g.t. Road, Nellore-524001
Nabha (PB) HDFC Bank Ltd. : Sco 14-15 Patiala Gate, Nabha - 147 201
Palakkad (KER) Canara Bank : PK No 329, 20/68 1st Floor, Market Rd. Big Bazar, Palghat 678014 • HDFC Bank Ltd. : 8/246
Chandra Nagar, Palakkad - 678 007
PALANPUR (GUJ) HDFC Bank Ltd. : Parth Complex, Near Cozy Tower, Opp. Joravar Palace, Palanpur-385001
PANAJI (GOA) CANARA BANK : Mathaij Palaza 18th June Road Panaji-403001
PANIPAT (HAR) HDFC Bank Ltd. : 801/4, G.T.Road, Panipat - 132 103
Panjim (GOA) HDFC Bank Ltd. : Swami Vivekanand Road, 301, Milroclar Menezes Opp. Gomantak Marathasamaz, Panjim-403001
PATHANAMTHITTA (KER) HDFC Bank Ltd. : CMS Dept., Aban Arcade Ward # 9/1128, Pathanathitta-Kumbazha Road, Pathanamthitta-689645
PATIALA (PB) Canara Bank : 2, Chhoti Baradari, The Mall ,Patiala-147001 • HDFC Bank Ltd. : Sco 70-73 Leela Bhawan
Market, Patiala-147001
PATNA (BIH) Canara Bank : Budhmarg, Patna - 80001 • HDFC Bank Ltd. : Rajendra Ram Plaza, Exhibition Road, Patna-800 001
PERINTHALMANNA HDFC Bank Ltd. : Calicut Road, Perinthalmanna, Malappur Dist. Perinthalmanna-679322
Phagwara (PB) HDFC Bank Ltd. : Kalra Road, Opp. Hanuman Garhi Mandir, G.T.Road, Phagwara-144401
Ponda (GOA) HDFC Bank Ltd. : Royal Chambers, Gd1-Gd4, Tisk, Ponda, Goa - 403 401

10
 REC 54EC BONDS-SERIES VIII

PONDICHERRY Canara Bank : Jawaharlal Nehru Street, Pondicherry - 605001 • HDFC Bank Ltd. : TS No. 6, 100 Feet Road,
Ellaipillaichavady, Pondicherry-605005
PORBANDAR HDFC Bank Ltd. : OM Shiv Sakthi, R D Chamber, Porbandhar-360575
PUNE (MAH) Canara Bank : Camp, Red CrosS Bldg, Pune-411001, Deccan Gymkhana, Pune - 411004 • HDFC Bank Ltd.
: Fortune Square, Model Colony, Pune - 411 016
Quilon (KER) HDFC Bank Ltd. : Vgp Buildings, Dorr No Xvi/1539 (1302A), Vadakumbhagom Ward, Irumpupalam, Quilon -
691 001
RAIPUR (CSG) Canara Bank : Batavia Building Malviya Road Raipur -492001 • HDFC Bank Ltd. : Chawla Tower, Near Bottle
House, Shankar Nagar, Raipur - 492 001
Rajamundry (ap) Canara Bank : Innespeta, Rajamundry - 533101 • HDFC Bank Ltd. : 46-17-20, Main Road, Danavaipet,
Rajahmundry - 533 103
RAJKOT (RAJ) Canara Bank : Trikonbag, Rajkot - 360001 • HDFC Bank Ltd. : Opp. Alfred High School, 2nd Floor, Panchratna
Bldg., Jawahar Road, Rajkot-360001.
Rajpura (PB) HDFC Bank Ltd. : 11-12 B Block, Chandigarh Patiala Road, Rajpura - 140 401
RANCHI (JHA) Canara Bank : S.N.Ganguli Road,Ranchi-834001 • HDFC Bank Ltd.: Rohini 1st Floor, 56 Circular Road,
Ranchi - 834 001
Rampur (Up) Canara Bank : Civil Lines, Rampur -244901
RANIGANJ (WB) HDFC Bank Ltd. : Nsb Road, Plot No. 408, Raniganj-713347
RATLAM (MP) HDFC BANK LTD : 90 , Station Road, Ratlam - 475 001
REWARI (HAR) HDFC Bank Ltd. : L-203, Old Court Road, Model Town, Rewari - 123 401
Rohatak (HAR) HDFC Bank Ltd. : 401-402 D Park, Modelt Town, Main Delhi Road, Rohtak - 124 001
ROORKEE HDFC BANK LTD : 313 / 8 , Civil Lines, Roorkee - 247 667
Ropar (PB) HDFC Bank Ltd. : Sohana Chandigarh Road, College Road, Ropar-141001.
ROURKELA (OR) HDFC Bank Ltd. : Bisra Road, Dwivedi Bhawan, Dwivedi Square, Rourkela - 769 001
RUDRAPUR HDFC Bank Ltd. : Plot No. 1 & 2, Nanital Road, Pol No. 1 & 2, Nanital Road, Rudrapur-263 153
SAMBALPUR HDFC Bank Ltd. : Nayapara, Golbazar Chowk, Sambalpur-768001
SANGAMNER HDFC BANK LTD : Shop No 1, Janak Plaza, Opposite Kubera Sankul, New Nagar Road, Sangamner - 422 605
SANGLI (MAH) HDFC Bank Ltd. : 640, Venkatesh Senate, Miraj Road, Sanghli - 414 416
SANGRUR HDFC Bank Ltd. : Shop No. 1-2-3 Kaula Park Market, Sangrur-148001
SHILLONG HDFC BANK LTD : Police Bazar, Shillong - 793 001
SALEM (TN) Canara Bank : Fort, Salem - 636001 • HDFC Bank Ltd. : 5/241-F, Rathna Arcade, Omalur Main Road, Salem - 636 004
SECUNDRABAD (AP) Canara Bank : RP Road, Secundrabad -500003
SHIMLA (HP) Canara Bank : The Mall Shimla - 171001 • HDFC Bank Ltd. : Jankidas Builidng, 3, The Mall, Shimla-161001
SHIMOGA HDFC BANK LTD : No 447, Sharavathi Complex, Saverlane Road, Shimoga - 577 201
Siliguri (WB) HDFC Bank Ltd. : 3, Ramkrishna Samity Building, Sevoke Road, Panitanki More, Siliguri - 734 401
Silvassa HDFC Bank Ltd. : 1-16 Jaypee House, Opp. Patel Petroleum Pump, Vapi - Silvassa Raod, Silvassa - 396 230
SINDHANUR HDFC BANK LTD : R.K Complex, Kushtagi Road, Sidhanur - 584 128
SOLAN HDFC Bank Ltd. : Anand Bhavan, Near DC Office, Rajgarh Road, Solan-173212
SOLAPUR HDFC BANK LTD : Sun Plaza, 1st Floor, 8516 / 11, Murarji Peth , Lucky Chowk, Solapur - 413 007
Sonepat (HAR) HDFC Bank Ltd. : L-203,Model Town, Sonepat - 131001
SURAT (GUJ) Canara Bank : K M Road, Surat - 395003 • HDFC Bank Ltd. : 7th Floor, Kashi Plaza, Next to Dr. Bipin Desai
Children Hospital, Majura Gate, Surat - 395 002
SAHARANPUR (UP) Canara Bank : Main, Chakrota Road, Saharanpur - 247001. • HDFC Bank Ltd. : Mission Compound, Court
Road, Adjoining Top Shop, Saharanpur-247001
SRINAGAR Canara Bank : Bhagat Mansions, The Bund ResIdency Road Srinagar 190001 • HDFC Bank Ltd. : m.s.
shopping Mall, Residency Road, Srinagar-190001
SURENDRANAGAR HDFC Bank Ltd. : Middle Point, Near Milan Cinema, Surendranagar-363002
THALASSERY HDFC Bank Ltd. : AVK Nair Road, Thalassery-670001
THANE (MAH) CANARA BANK : Gokhle Road,Naupada Thane
THIRUVANTHPURAM Canara Bank : Puthenchanthai (TVM), TC 25/1647, Devaswom Board Building, MG Road, Thiruvanthpuram
-695 001 • HDFC Bank Ltd. : Kenton Towers, Vazhuthacaud, Trivandrum 695 014
TIRUCHIRAPALLI (TN) Canara Bank : 26, Nandikoil Street, Teppakulam, Trichy • HDFC Bank Ltd. : A-10, “ Lakshmi Arcade”, 11Th
Cross Main Road, Thillai Nagar, Tiruchirapalli, - 620 018
Thiruvalla (KER) HDFC Bank Ltd. : Illampallil Buildings, 26/149 (1 & 2), MC Road, Thiruvalla-689101
TIRUNELVELI HDFC BANK LTD : 12 ,13 Trivandrum High Road, Vannarpet, Palayamkottai, Tirunelveli - 627 002
Tirupathi (AP) CANARA BANK : R.C.Road Tirupati-517501 • HDFC Bank Ltd. : H.No.10-14-575/A3 Mosque Road, V.V. Mahal
Road, Tirupati - 517 501

11
REC 54EC BONDS-SERIES VIII

TIRUR (KER) HDFC BANK LTD : Kms Tower, Thazepalam, Tirur - 676 101
Trichur (kER) Canara Bank : Round South, Trichur - 680001 • HDFC Bank Ltd. : Global Centre, M G Road, Trichur - 680 004
TRICHY (TN) Canara Bank : 26, Nandikoil Street, Teppakulam, Trichy - 602002 • HDFC BANK LTD : A - 10 , Lakshmi
Arcade, 11th Cross Main Road , Thillainagar, Trichy - 620 018
TRIVANDRUM (KER) Canara Bank : Puthenchenthai, Mg Road Thiruvanthapuram-695001 • HDFC BANK LTD : Kenton Towers,
Vazhuthacaud, Trivandrum - 695 014
TIRUPUR (TN) HDFC BANK LTD. : 160, Chidambaram Complex, Kumarand Road, Tirupur-641604.
UDAIPUR (RAJ) Canara Bank : Madhuban, Udaipur-313001 • HDFC Bank Ltd. : 358, Post Office Road, Chetak Circle, Adjacent
to Cetak Cinema, Udaipur-313001.
UNJHA (GUJ) HDFC BANK LTD : Suvidhi Complex, 1st Floor, Nr. Radha Krishna Station Road, Unjha-382170
UDUPTI (KAR) CANARA BANK : K M Marg, Udupi - 576101 • HDFC BANK LTD : Panduran Towers, Court Road, Diana Circle,
Udupti-576101
VADODARA (GUJ) Canara Bank : Raopura Road, Jubilee Park, Vadodra - 390001 • HDFC BANK LTD, Arun Complex, 6 Alka
Puri Society, RC Dutt Road, Vadodara.
VARANASI (UP) Canara Bank : Banspathak, Varanasi,- 221001 • HDFC Bank Ltd. : D-58/2, Kuber Complex, Rathyatra
Crossing, Varanasi - 221 010,
VIJAYWADA (AP) Canara Bank : Iron Centre, Vijyawada - 520001 • HDFC Bank Ltd. : 40-1-48/2, M.G. Road, Labbipet,
Vijayawada - 520 010
Valsad (GUJ) HDFC Bank Ltd. : 1st Floor, Ekta Apartment, Nr. Rjj High School, Thithal Road, Valsad-396001
Vapi (GUJ) HDFC Bank Ltd. : Lower Ground, Emperor Arcade, Chala Road, Vapi - 396 191
Vasco (GOA) HDFC Bank Ltd. : Gr. Floor, Damodar Building, Swatantra Path, Vasco-403802.
VELLORE (TN) HDFC BANK LTD : No 73, Officers Line, Krishna Nagar, Vellore - 632 001
VERAVAL (GUJ) HDFC Bank Ltd. : Amrut Deep, Opp Public Garden, Rajamahal Road, Veraval - 362 265
VISHAKHAPATNAM (AP) Canara Bank : Daba Gardens, Vishakhapatnam - 530020 • HDFC Bank Ltd. : 1st Floor, Poduri Caste,
Above Rayomond Showroom Dwarka Nagar, Visakhapatnam-530016
WARANGAL (AP) CANARA BANK : Station Road Warrangal-506002 • HDFC BANK LTD. : No. 1-8-605/1 Nakkalgutta, Nanamkonda,
Warangal-506002
Yamunagar (HAR) CANARA BANK : Jawahar Market, Radaur Rd. Yamunanagar 135001 • HDFC Bank Ltd. : 103, Model Town,
Nehru Park Road, Yamuna Nagar - 135 0030
Delhi - Retail
Gurgaon HDFC BANK LTD : DLF- Gurgaon, A-12, The Shopping Mall, DLF Qutab Enclave Phase 1, Gurgaon 122 001
Ghaziabad HDFC BANK LTD : C-29, RDC, Rajnagar, Ghaziabad, UP, 201001
Faridabad HDFC BANK LTD : 5-R/2, Badshah Khan Chowk,NIT, Faridabad 121 001
Noida HDFC BANK LTD : G 28 & 29, Sector 18, Noida 201 301
Mumbai - Retail
Thane HDFC BANK LTD : Sharad Kunj, Dr Moose Road, Talao Pali, Thane (W). Mumbai - 400602
Borivili HDFC BANK LTD : Jayabhadra Villa Ground flr, S.V Patel Road, Borivali ( W) Mumbai 400 092
Ghatkopar HDFC BANK LTD : 101/102,Vasant Niwas Bldg., Tilak Road, Ghatkopar (E), Mumbai 400 077
Bangalore - Retail HDFC BANK LTD : HDFC House 51, kasturba Road, Bangalore
Kolkatta - Retail
Central Plaza HDFC BANK LTD : Central Plaza, Sarat Bose Road, Kolkatta 700 020
New Alipore HDFC BANK LTD : 174A Block G, New Alipore , Kolkatta 700 053
Salt Lake HDFC BANK LTD : B A # Sector I, Salt Lake City Kolkatta - 700 064
Royd Street HDFC BANK LTD : Abhilasha Ii ,6 ,Royd Street,1st Floor,Kolkata-700 016

12
 REC 54EC BONDS-SERIES VIII

PART - II
ABOUT RURAL ELECTRIFICATION CORPORATION LIMITED
A PROFILE OF RURAL ELECTRIFICATION CORPORATION LIMITED
Rural Electrification Corporation (REC) was incorporated on July 25th 1969 under the Companies Act, 1956. REC is a
Govt. of India Public Sector Enterprise with a net worth of over Rs.5368 crore as at the end of 31.3.2008. REC has been
conferred “Navratna Status’ by Govt. of India in May, 08. Its main objective is to finance and promote rural and other
electrification projects all over the country. It provides financial assistance to State Electricity Boards, State Government
Departments, Private Sector and Rural Electric Cooperative and other entities in the power sector. As a result of REC’s
financial support over the last three decades, 84% of the villages in the country have access to electricity, with 60% of
being electrified by REC’s financing.
Background
When India became independent in 1947, electricity was available in a few villages and merely touched a few towns and
cities. At the time of lauch of five year development plans in 1951, about 3000 villages were provided electricity and nearly
21000 irrigation pumpsets were energized. In 1965-67, India faced a drought during which the main focus was to ensure food
security by raising the food production. In order to do so, a rural electrification programme was devised for increasing the
infrastructural input for agricultural production programmes. To implement the programme effectively REC was set up.
Mission and Objectives
To facilitate provision of electricity in rural areas of the country of sustainable development and for enrichment of quality
of life of the rural and semi-urban population by acting as a competitive and client friendly institution for financing and
promoting power generation, conservation, transmission and distribution projects in the country.
OPERATION HIGHLIGHTS
Pumpset Energisation:
REC’s loan portfolio also includes extension of loan assistance for energisation of agricultural pumpsets. Out of the total
over 140 lakh pumpsets reported to be energized in the country, about 60% pumpsets have been energised under schemes
funded by REC.
System Improvement:
In order to improve the efficiency of electrical network especially with respect of reduction of line losses and the voltage pro-
files, REC has been encouraging implementation and projectisation of the System Improvement programme. To strengthen
and improve the Transmission, Sub-transmission and Distribution System in the rural areas and to reduce the T&D losses,
REC provides loan assistance to the Power utilities under its System Improvement portfolio. This programme was taken up
on a regular basis from the year 1987-88. Stepping up its efforts over the years. REC has also introduced comprehensive
System Improvement approach under which it is proposed to identify and rectify all the System weaknesses and deficien-
cies right from the consumer end to the 132 KV/220 KV sub-station source in a contiguous area. Implementation of these
schemes will bring in qualitative change in the system and the ultimate consumer would be the real beneficiary.
As value added service, REC provides the power utilities with technical expertise for identifying the system deficiencies
and weaknesses and suggesting various alternatives to improve the system, out of which the most cost effective and
technically feasible solution is adopted.
HVDS : One such project is the High Voltage Distribution System (HVDS) sanctioned by REC on a large scale during the
previous years. The projects envisage reduction of technical and commercial losses by implementation of High Voltage
Distribution System (HVDS) in place of conventional Low Voltage Distribution System (LVDS) for all LT feeders feeding
agriculture loads. Apart from reducing LT line losses, the voltage profile is improved, failure of Distribution Transformers
is reduced leading to improved reliability and quality of power supply to consumers.
Bulk Financing : Apart from System Improvement projects, REC also finance the procurement and installation/replace-
ment of various equipment required in the system. For example, most of the power utilities are taking up large scale
installation/replacement of meters in order to have an accurate measure of the energy flow in the system, for which REC
provides finance to meet their requirements. Similarly, to meet the ever increasing requirement of financial support for
installation and replacement of transformers, capacitors, breaks etc. the Corporation has introduced schemes for financing
of bulk procurement of these items.
RGGVY : Rural Electrification Corporation is the nodal agency for implementation of Rajiv Gandhi Grameen Vidyutikaran
Yojana (RGGVY) launched by the Government of India in April, 2005. The scheme is for creation of requisite rural electricity
infrastructure in the country so as to provide access of electricity to all rural households within the stipulated timeframe.
The scheme would also facilitate overall rural development generation and poverty alleviation by providing access to electricity to all rural
households, inclusive of BPL households and also cater to the requirement of agriculture and other activities like irrigation pumpsets,
small medium industries, khadi and village industries, cold chains, health care and educational IT.
For meaningful electrification of rural areas, scope of the scheme covers provision of
(i) Rural Electricity Distribution Backbone (REDB) i.e. provision of 33/11 KV(or 66/11 KV) sub-stations of adequate ca-
pacity and lines in blocks where these do not exist.
(ii) Creation of Village Electrification Infrastructure (VEI)
- Electrification of un-electrified villages.
- Electirfication of un-electrified habitations.
- Provision of distribution transformersof appropriate capacity in electrified villages/habitation(s)
(iii) Decentralised Distribution Generation (DDG) and Supply
(iv) Rural Household Electrification of Below Poverty Line Households.
- Electrification of un-electrified Below Poverty Line (BPL) households would be financed with 100% capital subsidy as per
norms of Kutir Jyoti Programme in all rural habitations. Households above poverty line would be paying for their connec-
tions at prescribed connection charges and no subsidy would be available for this purpose.
13
REC 54EC BONDS-SERIES VIII

The provision for capital subsidy has been made up to 90% of the project cost.
Equal stress has also been imparted for revenue sustainability through deployment of rural franchisees and provision for revenue
subsidies from the State Government as required under Electricity Act, 2003.
Generation
REC has diversified to promote/finance power generation schemes in the conventional, non-conventional and renewable energy
sectors. This programme is open to the private sector also. It has till 31st March, 2008 sanctioned financial assistance amounting
to nearly Rs. 58000 crore for implementation of various hydro, thermal, and R&M projects. This will create additional generation
capacity of nearly 29555 MW.
CIRE
The Central Institute for Rural Electrification (CIRE) established by REC at Hyderabad in 1979 provides training in Energy
Management and Rural Electrification. It caters to the training needs of public and power utilities, RE cooperatives, banks,
development agencies associated with rural energy programmes and REC itself. CIRE has conducted more than 785 programmes
and trained over 16213 participants upto March 2008. CIRE provides training in Technical, Management, Finance & Accounts,
Information Technology, Energy Conservation etc. related to Power Sector. It has an energy park in its premises set up through
MNES assistance.
MANAGEMENT
REC is managed by a Board of Directors consisting of a Chairman and Managing Director appointed by Central Government.
Presently following are Directors :
Sl. No. Name & Adress Telephone Office
1. Shri P. Uma Shankar-Chairman & Managing Director 011-24361562, 24361851
REC Ltd., Core-4, Scope Complex, 7, Lodhi Road, New Delhi-110003.
2. Shri Hari Das Khunteta-Director (Finance) 011-24361914
REC Ltd., Core-4, Scope Complex, 7, Lodhi Road, New Delhi-110003.
3. Shri Bal Mukand-Director (Technical) 011- 24368178
REC Ltd., Core-4, Scope Complex, 7, Lodhi Road, New Delhi-110003.
4. Shri Devender Singh, Govt. Nominee Director 011-23710199
Ministry of Power, Shiram Shakti Bhawan, New Delhi-110 001.
5. Shri Venugopal N. Dhoot-Part Time non-official Director 022-66113500
Videocon Industries Limited, Fort house, 2nd Floor, 221, Dr. D.N. Road,
Fort, Mumbai-400001.
6. Dr. Devi Singh-Part Time non-official Director 0522-2734101
Indian Institute of Management, Prabandh Nagar, Off Sitapur Road,
Lucknow-226103 (U.P.)
7. Shri M. Govinda Rao-Part Time non-official Director 011-26857274
National Institute of Public Finance & Policy, 18/2, Satsang Vihar Marg,
Special Institutional Area, Near J.N.U. New Delhi-110067
8. Shri P.R. Balasubramaniam-Part Time non-official Director 080-25426947
Retd. CMD, FACt 229, 9-A Main 1st Block, HRBR Layout,
Kalyan Nagar, Bangalore-560043
CAPITAL
The authorised share capital of REC is Rs. 1200 crore and paid-up capital as on 31.3.2008 is Rs. 858.66 crore.
RESOURCES
The Corporation resource comprises interalia Equity, Borrowing from Banks/Institutions, Borrowing from Govt. of India. Government
SLR Bonds and Tax Free Bonds, Taxable Bonds, Reserves and Surplus.
FINANCIAL HIGHLIGHTS (Rs. in crores)
31-March-08 31-March-07 31-March-06 31-March-05 31-March-04 31-March-03
Income from Operations 3378 2652 2071 2200 1985 2033
Other Income 159 202 174 102 11 20
Total Income 3537 2854 2245 2302 1996 2053
Profit before tax and depreciation 1312 1007 831 1037 802 767
Profit after tax and depreciation 860 660 638 781 609 578
Shareholders’ Funds 5368 4013 4198 3779 3264 2861
Capital 858.66 780.6 780.6 780.6 780.6 780.6
Reserves and Surplus 4509 3232 3418 2998 2483 2081
Loan Funds 34283 30281 24039 19378 15109 12897
Secured Loans 29423 26534 21749 17449 13467 10109
Unsecured Loans 4860 3747 2290 1929 1642 2788
Loan Funds to Shareholders’ Funds 6.39 7.55 5.7 5.1 4.6 4.5
14
Fitch Ratings
KNOW YOUR RISK
 OFFICES OF REC
Address Contact person Tel./Fax No.
Corporate Office :
Core 4, Scope Complex Investor Cell: Tel : (011) 24361320 (Dir.)
7, Lodhi Road 1. Sh Sanjay 2. Sh. Madan Tel : (011) 24365161 Extn. 527
New Delhi-110 003
Project Offices
No. 1/5, Halasur Road, Sh. J. Rajan Tel : (080) 25598244
Bangalore - 560 042 Sh. B.R. Nagaraj Fax : (080) 25598243
Deen Dyal Bhawan Sh. S. K. Mohanty Tel : (0674) 2536649/2393206
5th Floor, Ashok Nagar, Janpath, Fax : (0674) 2536669
Bhubaneshwar-751009
SH No. 12 & 13 Sh. Veluchamy Tel : (044) 24672376/24987960/24987841/24671196 (ext 30)
T.N.H.B. Complex 180 Sh. B. Thirumaran Fax : (044) 24670595
Luz Church Road (Luz Corner), Mylapore
Chennai - 600 004
ICMARD Building, 7th Floor, Sh. S. Ghosh Dastidar Tel : (033) 23566989 (D) (Extn. 27/34)/2356-7017
Block 14/2, CIT Scheme-viii(M), Ultadanga, Sh. Anjan Lahri Fax : (033) 23344923
Kolkatta - 700 067.
Bay No. 7-8 Smt. Savita Jain Tel : (0172) 2563863, 2563864,9814610179
Sector 2 Fax : (0172) 2356-6991
Panchkula (Haryana)-134 112
“Kamalalaya” (1st & 3rd Floor) Sh. B.R. Boro Tel : (0361) 2450485 / 2454702/2452982
Zoo, Narangi Tiniali Fax : (0361) 2454702
R.G. Baruah Road, Pinaki Path
(By Lane No. 7),
Guwahati - 781 003 (Assam)
Campus of CIRE Sh. V. Lakshmana Charyulu Tel : (040) 24014235/24018587, 24014420
National Highway No. 7 Sh. S.V.S. Bangaram Fax : (040) 24014235/24015896
Near Aramghar Post NPA
Shivrampally
Hyderabad - 500 052
A-157, Gandhi Nagar Sh. S.A. Haider Tel : (0191) 2450868
Jammu - 180 004 Fax : (0191) 2450868
J.D.A. Building, First Floor, Sh. T.S.C. Bosh Tel : (0761) 2423994
Madan Mahal, Sh. M.A. Ali Fax : (0761) 2671124
Jabalpur - 482 001
J-4-A Jhalana Dungari Sh. Baleshwar Naidu Tel : (0141) 2707840, 09413342039
Insitutional Area, Fax : (0141) 2706986
Jaipur - 302 004
19/8, Sector 19, Indira Nagar, Ring Road, Sh. N.K. Maurya Tel : (0522) 2716324, 2717376, 2716446
Lucknow - 226 016 Fax : (0522) 2716815
Mittal Tower Sh. Hemant J. Shah Tel : (022) 22833055 Mobile : 9920286728
51-B, 5th Floor, Nariman Point Fax : (022) 22831004
Mumbai - 400 021
‘Maurya Lok’ Complex Sh. Hemant Kumar Tel : (0612) 2221131 / 2224596 Mobile : 9934318321
Block-C, 4th Floor Sh. Birendra Kumar Fax : (0612) 2224596
New Dak Bangla Road
Patna - 800 001
Om Shree Enclave, Beside Loyola School, Sh. D. Soren Tel : (0651) 2253123
Airport Road, Sh. Suman Ekka` Fax : (0651) 2253123
Hinoo, P.O. Doranda,
Ranchi - 234 002
Pl. Padamdev Commercial Sh. Ram Das Dutta Tel : (0177) 2653411 / 2804077
Complex, Phase II Fax : (0177) 2804077
First Floor, The Ridge
Shimla - 171 001
Rinadee, Old Jowai Road Sh. S.Aich Tel : (0364) 2220860/2210190
Lachuniere Sh. Keshab Adhikari Fax : (0364) 2225687
Shillong - 793001
O-5, 4th Floor, “Saphallyam” Sh. K.E.Rajankutty Tel : (0471) 2328662 / 2327132
Commercial Complex Fax : (0471) 2328579
Trida Building Palayam
Thiruvanathapuram- 695 034
Plot No. 585, TP Scheme No. 2 Sh. Haresh Moorjani Mobile : 9925138354, 9427307796, 9898047204
Behind Pusti Complex Sh. S.S.Maurya Tel : (0265) 2397487 Mobile : 9427301796
Near BMC Ward Office Sh N.N.Mehta Fax : (0265) 2397652
Atam Jyoti Ashram Road, Subhan Pura,
Vadodara - 390 023
 RURAL ELECTRIFICATION CORPORATION LIMITED Application Number
(A Navratna Company)
Regd. Office : Core-4, SCOPE Complex, 7, Lodi Road, New Delhi-110 003.
APPLICATION FORM FOR NON-CONVERTIBLE REDEEMABLE
TAXABLE Bonds SERIES VIII WITH BENEFITS UNDER SECTION 54EC OF INCOME TAX ACT, 1961
(PLEASE CAREFULLY READ THE MEMORANDUM OF PRIVATE PLACEMENT BEFORE FILLING UP THIS FORM)
Broker’s Name & Code Sub Broker’s Name & Code Bank Branch Serial No. & Stamp FOR USE BY COLLECTING BANK BRANCH

Date of receipt Date of credit of Cheque/Demand Draft

of application in REC Account
Registrar’s reference no.

Dear Sirs,
I/We have read and understood the information Memorandum of Private Placement, I/We bind myself/ourselves to their provisions and apply for allotment. Please place my/our name(s) on
the register of Bondholder(s).
No. of Bonds (A) (Minimum 1) (Maximum 500) Cheque/Demand Draft Drawn on Cheque/Demand Dated
(Name of the Bank and Branch) Draft No.
In Numbers
In Words
Issue Price of Bond Amount Payable (Rs.) (A x 10,000)
Rs.
In Words
We are applying as (Tick ✓ ) whichever is applicable
1. Banks/Commercial RRB/Co-Operative 2. Financial Institutions 3. Company 4. Mutual Fund 5. Firms 6. NRI 7. Individuals/HUF 8. Others (specify..................)
BOND CERTIFICATE MODE (TICK ✓ ) ANY ONE
Physical Mode Demat Mode DPID No. Client ID No.

APPLICANT’S NAME IN FULL

Date of Birth (if Minor)

FATHER’S / HUSBAND’S NAME OF APPLICANT (IN CASE OF INDIVIDUALS)

APPLICANT’S ADDRESS IN FULL (DO NOT FILL IN NAME AGAIN)

PHONE EMAIL _______________________________________________________

BANK PARTICULARS FOR PAYMENT OF INTEREST / REDEMPTION WARRANT

Bank Name Account No.

Branch Name/Address Account Type SB Account Current Account Cash Credit Account

FOR ECS PAYMENT

9 Digit Code number of the Bank & Branch appearing on the MICR Cheque issued by the bank (please attach a photocopy of cheque or a cancelled cheque
issued by your bank for verifying the accuracy of the code number)

PAN / GIR NO. OCCUPATION SIGNATURE

APPLICANT

DETAILS OF NOMINEE (For individual Only) Name of Authorised Signatory(ies) Designation

Name...................................................................................................................................
(Other than Individual)
Address............................................................................................................................... 1.................................................... 1. .......................................................
Name of Guardian.................................. Relation with Applicant........................................ 2.................................................... 2. .......................................................
Disclaimer : The Bond Issue is being made strictly on a private place-
Date of Birth (if minor)...................................... Signature of Nominee/Guardian (optional) ment basis. It is not and should not be deemed to constitute an offer to
the public in general. It cannot be accepted by any person other than to
whom it is directed.
DECLARATION : “I/We certify that the aggregate investment made/being made by me/us in 54EC Capital Gains Tax Exemption Bonds during the financial year- April
2008 to March 2009 does not exceed Rs. 50 lakhs”

Signature of Applicant(s)

ACKNOWLEDGEMENT SLIP RURAL ELECTRIFICATION CORPORATION LIMITED

(To be filled in by the Sole/First Applicant) (A Navratna Company) Application Number
54EC Bonds-SERIES VIII Regd. Office : Core-4, SCOPE Complex, 7, Lodhi Road, New Delhi-110 003.
No. of Bonds Amount (Rs.) Date Accepting Officer’s
Received from Mr./Mrs./Ms......................................................................................................... (Max. 500) Signature & Bank’s Seal
Address....................................................................................................................................... In Numbers
In Words
....................................................................................................................................................

Pin............................................................................................................................................... Cheque/DD No...............................dated.................... drawn on...................................................

..................................................... for Rs.......................................................................................
in words.........................................................................................................................................
 INSTRUCTIONS
instructions FOR INVESTORS
1) ISSUE HIGHLIGHTS: • Interest rate 5.75% payable annually on June 30th each year • Ist interest payment will be made on
30.06.09 • Lock in period of 3 years (No transfer is permitted). • Maximum investment capped at Rs. 50 lakhs. Please read
instruction No. 3. • The Bonds will automatically redeemed after expiry of three years.
2) Application Forms must be completed in BLOCK LETTERS IN ENGLISH. A blank space must be left between two or more
parts of the name. For example :-
R A M P R A S A D
Signature should be made in English or in Devnagari script. Signatures made in any other languages must be attested by
an authorised official of a Bank or by a Magistrate / Notary Public under his/her official seal.
3) Minimum investment-1 Bond and maximum investment-500 Bonds amounting to Rs. 10,000/- and Rs. 50 lakhs respectively.
However, the aggregate investment made/being made by applicants in the 54EC Capital Gains Tax Exemption Bonds during
the financial year 2008-09 should not exceed Rs. 50 lakhs.
4) (i) Investors are required to submit the Application Form duly filled alongwith necessary enclosures at the specified Col-
lecting Bankers as indicated in the Application Form. Incomplete and illegible applications are liable for rejection.
(ii) Investors sending their applications by post are required to send the same to the controlling Bank Branches accompanied
with Demand Draft payable at New Delhi. Demand Draft Charges shall be borne by the applicant.
(iii) Investors are advised in their own interest to fill up details of their bank particulars. In absence of such information, the
interest warrants shall be mailed at given address at applicants sole risk.
5) The completed Application Forms must be accompanied by either a Demand Draft or Cheque of the amount as desired
by the investors and made payable in favour of “Rural Electrification Corporation Limited - 54EC Bonds” and crossed
Account Payee only. Applicant should mention his name address and application number on the reverse of the Cheque/
Demand Draft.
6) Cheques / Demand Drafts may be drawn at any collection centre as mentioned in the Information Memorandum.
7) Application once submitted cannot be withdrawn.
8) Cash, Outstation Cheques, Stockinvest, Money Orders or Postal Orders will NOT be accepted.
9) In case neither the PAN nor the GIR No. has been allotted, or the Applicant is not assessed to income tax, the appropriate
information should be mentioned in the space provided. In case the investor has applied for and not been allotted the PAN/
GIR No. then he is required to furnish a copy of the acknowledged Form 49A. In case the investor is applying through a
demand draft and PAN/GIR No. has not been allotted he is required to furnish a declaration in Form 60. Applications not
mentioning the PAN/GIR No. or not accompanied by copy of the acknowleged Form 49A or by Form 60 shall be
rejected.
10) Interest/Redemption shall be paid by way of interest warrant/ECS payable at par at locations where collection centres are
appointed. Interest is payable annually on 30th June every year till date of redemption.
11) Vide notification No. 359/2002 dated 2nd December, 2002, the Corporation has been exempted from deduction of tax at
source under section 193 of the Income Tax Act 1961, on the interest payable on REC 54EC Capital Gain Tax Exemption
Bonds.
12) Receipt of applications will be acknowledged by Stamping the “Acknowledgement Slip” appearing below the Application
Form by the Bankers. No separate receipt will be issued.
13) In case of application under the Power of attorney or by Limited Companies or other corporate bodies, a certified copy of
the Power of Attorney or a copy of the approval of the relevant authority, as the case may be should be submitted alongwith
the Application Form.
14) In case a partnership firm makes investments, the application is required to be made in the name of the partnership firm and
the application form can be signed by any partner(s) authorised to do in this behalf and affixing a rubber stamp of the firm.
15) The applications would be scrutinised and accepted as per the provisions of the Terms and Conditions (Instructions) of the
Private Placement forming part of the Memorandum of Private Placement. REC is entitled, at its sole and absolute discretion,
to accept or reject any application, in part or in full, without assigning any reason. An Application Form that is not complete
in all respect is liable to be rejected.
16) It is advisable that investor keeps a photocopy of the application form.
17) The application forms will not be accepted after banking hours.
18) REC reserves the right to close the issue by giving a prior notice of 5 days in any two leading National dailes. All applications
submitted but not accepted by REC would be returned by REC to the applicant without any interest.
19) For any details application form, collection centre and for information about the Bonds, Please contact Investors Services
Cell at Tel. 011-24361320, 24365161 ext. 527 or our Project Offices.

Any further communications in connection with this application (quoting the number of acknowledgement slip)
should be addressed to RCMC Share Registry (P) Ltd., B-106, Sector-2, NOIDA, U.P.-201301. Ph.: 0120-4015880
Fax : 0120-2444346 Website : rec.rcmcdelhi.com E-mail : bonds@rcmcdelhi.com
 RURAL ELECTRIFICATION CORPORATION LIMITED
KNOW YOUR CUSTOMER FORM (FOR INVESTOR)
1. Name of Individual/HUF/Corporate/Firm/Trust/Funds etc.

2. PAN/DIN (issued by MCA, wherever applicable)______________________

3. Permanent Address (with telephone nos.) in case of individual and HUF

4. Business/Mailing Address (with telephone and fax nos) wherever applicable

5. Nature of Business_______________________________________________________________________

6. Source of Funds_________________________________________________________________________

Signature   
(a) For resident Indian nationals
Documents in support of Name and Address (copies attested by Gazetted officer/Notary/Self Attested in case of Individual
only)
PAN Card and any one of the following
(i) Ration Card (ii) Passport (iii) Driving Licence (iv) Identify Card issued by any institution (v) Copy of the electricity bill or
telephone bill showing residential address (vi) Any document or communication issued by any authority of the Central Gov-
ernment, State Government or local bodies showing residential address (vii) voter’s identity card.
(b) For Foreign Nationals/NRIs etc
(i) Passport-Mandotary (ii) Driving Licence
(c) For Corporate-Investor
Documents in support (copies attested by Company Secretary/Director
(i) Certificate of incorporation and Memorandum & Articles of Association (ii) Resolution of the Board of Directors and iden-
tification of those who have authority to operate (iii) Power of Attorney granted to its managers, officers or employees to
transact business on its behalf (iv) Copy of PAN/PAN Allotment letter.
(d) For Partnership Firms-Investor
Documents in support (copies attested by Notary)
(i) Registration certificate, if registered (ii) Partnership deed (iii) Power of Attorney granted to a partner or an employee of
the firm to transact business on its behalf (iv) Any officially valid document identifying the partners and the persons holding
the Power of Attorney and their addresses (v) Telephone bill in the name of firm/partners (vi) Copy of PAN/PAN Allotment
letter.
(e) Trust & Foundations-Investor
Documents in support (copies attested by Notary)
(i) Certificate of registration, if registered (ii) Power of Attorney granted to transact business on its behalf (iii) Any officially
valid document to identify the Trustees, Settlors, Beneficiaries and those holding Power of Attorney, Founders/Managers/
Directors and their addresses (iv) Resolution of the managing body of the Foundation/Association (v) Telephone bill (vi) Copy
of PAN/PAN Allotment letter (otherwise exemption certificate issued by IT Authorities)
 FORM NO. 60
[See second proviso to rule 114B)

Form of declaration to be filed by a person who does not have a permanent account number
and who enters into any transaction specified in rule 114B

1. Full name and address of the declarant.................................................................................................................

2. Particulars of transacton........................................................................................................................................

3. Amount of the transaction......................................................................................................................................

4. Are you assessed to tax?.......................................................................................................................................

5. If yes,

(i) Details of Ward/Circle/Range where the last return of income was filed?

(ii) Reasons for not having permanent account number?

6. Details of the document being pdoduced in support of address in column (1)

Verification

I.................................... do hereby declare that what is stated above is true to the best of my knowledge and belief.

Verified today, the ........................................................... day of..................................................................................

Date : .........................................................

Place : .........................................................
...........................................
Signature of the declarant

Instructions:

(a) Ration Card

(b) Passport
(c) Driving Licence
(d) Identify Card issued by any institution
(e) Copy of the electricity bill or telephone bill showing residential address
(f) Any doucment or communication issued by any authority of the Central Government, State Government or local
bodies showing residential address
(g) Any other documentary evidence in support of his address given in the declaration.