IRFC Strengthens Finance Leadership, Appoints New Director (Finance) & CFO In Major Board-Level Reshuffle

New Delhi: Indian Railway Finance Corporation (IRFC), the dedicated financing arm of Indian Railways, has announced key changes in its top management. The company’s board approved the appointments during its meeting held on June 30, 2026. These changes are expected to strengthen IRFC’s financial leadership and improve decision-making in funding railway projects.

Director (Finance) Appointed

IRFC has appointed Dr Ranjay Choudhary as an Additional Director and Director (Finance) for a period of five years. His appointment becomes effective from June 30, 2026, the day he assumed charge.

Dr Choudhary brings nearly 29 years of experience in finance, accounts, lending policy, treasury management and infrastructure funding. Before joining IRFC, he served as Chief General Manager at Power Finance Corporation (PFC), where he handled loan appraisal for major power and infrastructure projects.

He has also played an important role in several Government of India initiatives related to the power sector. His experience is expected to support IRFC in raising funds efficiently for future railway expansion.

New CFO Takes Charge

The board has also appointed Ms Deepa Kotnis as the new Chief Financial Officer (CFO) and Key Managerial Personnel of the company with immediate effect.

Ms Kotnis is a 1998-batch officer of the Indian Railway Accounts Service (IRAS) and has more than 27 years of experience in public finance and infrastructure management.

She has worked in major organisations including Indian Railways, Bangalore Metro Rail Corporation and the Pension Fund Regulatory and Development Authority. Her expertise includes capital raising, budgeting, treasury operations and regulatory compliance.

Previous CFO Steps Down

Following these appointments, Randhir Sahay has stepped down from the additional charge of Director (Finance) and CFO with effect from June 30.

The leadership transition comes at an important time as IRFC continues to play a major role in funding India’s railway modernisation and infrastructure growth.

Disclaimer: This article is based on company exchange filings and official disclosures. Investors should evaluate details independently before making decisions.