SUGAM REC APP (Syllabus: GS Paper 3 – Economy)

News-CRUX-10     9th October 2023        
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Context: Recently, REC Limited, the Maharatna Central Public Sector Enterprise launched a SUGAM REC mobile application.SUGAM REC App

  • About: This service is designed specifically for REC's 54EC Capital Gain Tax Exemption Bond investors.
  • Through this platform, investors can:

o Easily access and download their e-bond certificates.

o Initiate fresh investments conveniently.

o Obtain essential forms for KYC updates.

o Establish communication with REC's Investor Cell through phone, email, or WhatsApp.54EC Bonds

  • About: Capital gain bonds, also referred to as 54EC bonds, are fixed-income instruments designed to grant investors capital gains tax exemptions under section 54EC.
  • Investors can utilize these bonds to reduce their income tax liability on long-term capital gains.
  • These bonds come with a mandatory lock-in period of 5 years and can be held either in physical or demat form.
  • Managed by: Government of India