IRFC Appoints New Finance Director and CFO as Board Reorganizes Key Management Personnel
Indian Railway Finance Corporation Limited (IRFC) has appointed new senior management and directors following a meeting of its Board held on June 30, 2026. The decisions involved key appointments in the finance domain, including the addition of an External Director (Finance) and the appointment of a Chief Financial Officer (CFO).Shri Ranjay Choudhary has been co-opted as an Additional Director (Finance) to the Board for a period of five years. His appointment follows recommendations from the Nomination and Remuneration Committee and the Audit Committee. Dr. Choudhary, who holds a Bachelor of Commerce (Honours) and a Master of Commerce from Ranchi University, is described as a seasoned finance professional with over 29 years of experience spanning corporate financial management, treasury management, and fundraising. Prior to joining the board, he served as Chief General Manager, Entity Appraisal, at Power Finance Corporation Limited (PFC).
Concurrently, Ms. Deepa Kotnis has been approved for appointment as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from June 30, 2026. Ms. Kotnis is an officer of the 1998 batch of the Indian Railway Accounts Service (IRAS). She possesses over 27 years of experience in public finance, infrastructure funding, and financial management. Her professional background includes serving as Financial Advisor & Chief Accounts Officer (Construction) in South Western Railway.
The reorganization also necessitated a change regarding Shri Randhir Sahay, who will cease to hold the additional charge of Director (Finance) and the office of Chief Financial Officer (CFO), effective June 30, 2026.
A summary of the key personnel changes at IRFC includes:
| Particulars | Shri Ranjay Choudhary | Ms. Deepa Kotnis | Shri Randhir Sahay |
|---|---|---|---|
| Role | Additional Director (Finance) | Chief Financial Officer (CFO)/KMP | Ceased additional charge of Director (Finance) and CFO |
| Date/Term | Appointment for five years, effective June 30, 2026 | Appointment effective from June 30, 2026 | Cessation effective from June 30, 2026 |
| Profile Highlights | Over 29 years in finance; experienced in lending policy and project appraisal. Holds a PhD in Finance. Currently holds 50 shares of IRFC. | Over 27 years in public finance; formerly served as Financial Advisor & Chief Accounts Officer (Construction) at South Western Railway. | Not Applicable |
IRFC Stock Price Movement
As of 12:50 PM, shares of Indian Railway Finance Corporation Limited are slipping by 0.20% in live trading, currently at ₹90.43. The stock has seen brisk activity today, with a traded volume reaching 11.88 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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