Ranjay Choudhary Appointed Director (Finance), IRFC

Ranjay Choudhary, presently Chief General Manager at Power Finance Corporation Limited, has been appointed Director (Finance) of Indian Railway Finance Corporation Limited for a period of five years.

IRFC is the dedicated financing arm of the Indian Railways, raising funds from domestic and international markets to lease rolling stock and fund railway infrastructure projects. The Director (Finance) post is a board-level role responsible for the company's borrowing programme and its lease agreements with the Railway Ministry, which together account for the bulk of IRFC's balance sheet.

Choudhary moves to IRFC from Power Finance Corporation, a central public sector financial institution that lends to the power sector, where he held the rank of Chief General Manager — a senior position typically responsible for managing large lending portfolios and treasury operations.

His move from PFC to IRFC continues a pattern of cross-movement between India's specialised public sector financing institutions, which often draw senior finance executives from one another given the overlapping skill set required to manage large, infrastructure-linked loan books.

The appointment comes as IRFC continues to expand its lending beyond traditional rolling-stock leases into funding for railway electrification and station redevelopment projects, widening the scope of the finance director's responsibilities beyond the company's original core business.

As Director (Finance), Choudhary will be responsible for IRFC's continued access to low-cost capital markets, a function critical to the company's ability to keep lease rentals affordable for the Railways while maintaining its own profitability.

The appointment is for a period of five years, as per the order issued by the Ministry of Railways.