IRFC, the government-backed financier of Indian Railways, announced a leadership reshuffle at both board and executive levels following its meeting on 30 June 2026. The board approved the co-option of Ranjay Choudhary as an Additional Director designated as Director (Finance) for a period of five years, with effect from the date of his assumption of charge. In the same meeting, the board approved the appointment of Deepa Kotnis, Executive Director (Finance) at IRFC, as Chief Financial Officer (CFO) and Key Managerial Personnel of the company, effective 30 June 2026. Randhir Sahay will cease to hold the additional charge of Director (Finance) and CFO from that date, as part of the transition.
Ranjay Choudhary brings a wealth of public-sector and infrastructure-finance experience, with a background rooted in the Indian Railways accounts ecosystem and broader government-led lending and policy work. The board noted that he has not been debarred from holding office and is not related to any Director or Key Managerial Personnel of the company. His appointment is expected to strengthen financial governance and oversight on the board as IRFC continues to play a central role in financing railway infrastructure.
Deepa Kotnis, currently Executive Director (Finance) at IRFC, has been elevated to CFO alongside her existing KMP responsibilities. An Indian Railway Accounts Service officer of the 1998 batch, Kotnis brings nearly three decades of experience spanning public finance, infrastructure funding, treasury management, and financial-policy execution. Her career includes leadership roles with the South Western Railway as Financial Advisor & Chief Accounts Officer (Construction), stints at the Bangalore Metro Rail Corporation Limited, and engagements with the Pension Fund Regulatory and Development Authority, among others. This internal elevation signals IRFC’s intent to deepen financial planning, capital-raising effectiveness, and governance as it channels funding to rail infrastructure projects across the country.