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State-owned Rural Electrification Corp (REC) plans to raise up to Rs 700 crore through tax-free bonds

 
 
The court questioned the department for not properly serving notices on the KFA and others before seeking an expeditious hearing and posted the matter for March 28.
The Minister of State for Finance said that the objective of the proposal was to provide "further benefits to salaried class as far as pension was concerned".
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