IRFC has signalled a leadership shift in its finance function, with the Ministry of Railways approving the appointment of Ranjay Choudhary, currently the Chief General Manager at Power Finance Corporation Ltd., to the post of Director (Finance) at Indian Railway Finance Corporation Ltd. The appointment is for a five-year term and comes with the pay scale of Rs 1,80,000-3,40,000 (IDA), effective from the date of assumption of charge or earlier as may be ordered. The move underscores IRFC’s emphasis on strengthening its financial governance as it steers capital-intensive railway expansion.
In a parallel development, IRFC said ex-post facto approval has been granted for extending the additional charge of the Director (Finance) post to Randhir Sahay, IRAS, ED/F(S), Railway Board, for a period of six months from 01.05.26 or until the regular incumbent assumes charge, whichever is earlier. This step is described as ensuring continuity in leadership during the transition and appointment formalities.
The company added that it is taking the necessary steps to complete the appointment formalities for Ranjay Choudhary and will furnish the requisite disclosures in due course. As IRFC balances governance with execution, the leadership reshuffle signals a pragmatic approach to sustaining momentum on its financing mandate for the Indian Railways’ growth agenda.
Observers could view the arrangement as a measured transition that aligns strong financial leadership with IRFC’s longer-term investment priorities, even as it navigates the regulatory and administrative cadence required to bring new leadership fully on board.