NMDC Limited is a Schedule A public sector undertaking. It operates under the administrative control of the Ministry of Steel. The company is India’s largest iron ore producer.

A total of eleven candidates appeared before the selection board for the interview. After reviewing all applicants, the Board recommended Shri Vivek Nishant Nath for the position.

Shri Vivek Nishant Nath currently serves as Chief General Manager (Sales and Marketing) at Odisha Mining Corporation Limited. He has been selected to take over the commercial portfolio at NMDC.

The complete list of eleven candidates who appeared for the interview is as follows:

• Shri Satyender Rai – Executive Director, NMDC Limited

• Shri Rabindra Narayan – Executive Director & Head of Project (HOP), BIOM, Kirandul Complex, NMDC Limited

• Shri Ramesh Kumar Shetty Bannadi – Chief General Manager, NMDC Steel Limited, Nagarnar, Bastar, Chhattisgarh, NMDC Limited

• Shri Sreedhar Kodali – Chief General Manager & Head of Project, NMDC Limited

• Shri V Prashant Rao – Chief General Manager (Materials Management) & Special Officer Technical to CMD, NMDC Limited

• Shri Ushna Ranjan Mishra – General Manager (Materials Commercial Dept, Corporate office Bhubaneswar), National Aluminium Company Limited (NALCO)

• Shri Munna Prasad Singh – Executive Director (Mines), OGOM, CMLO, Rourkela, Steel Authority of India Limited (SAIL)

• Shri Priyaranjan Kant Sahay – Chief General Manager, CGM(Projects)- Commercial, Steel Authority of India Limited (SAIL)

• Shri Pankaj Tripathi – Chief General Manager, Sales and Contract Manufacturing, Steel Authority of India Limited (SAIL)

• Shri Babji Patchilla – General Manager, Defence (M/O)

• Shri Vivek Nishant Nath – Chief General Manager (Sales and Marketing), Odisha Mining Corporation Ltd. (Recommended)

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On 25^th March 2026, the Appointments Committee of the Cabinet (ACC) approved the proposal from the Ministry of Power for the appointment of Shri Rajesh Kumar as Director (Finance) at REC Limited for a period of five years.

Rajesh Kumar is a seasoned finance professional who brings over 30 years of extensive experience in the public sector, specifically in the power and infrastructure financing domains. He has multidimensional experience in accounts, taxation, audit, treasury, project appraisals, and regulatory compliances. He holds a Bachelor’s degree in Commerce from Shri Ram College of Commerce, Delhi University, complemented by dual professional qualifications as a Chartered Accountant (CA) and Cost & Management Accountant (CMA).

Prior to this elevation, Shri Kumar served as the Executive Director (Finance) at REC Limited, where he played a pivotal role in the organization’s financial strategy and growth. His career is marked by a decade-long stint with a CPSE engaged in engineering and project consultancy, followed by over 20 years of dedicated service at REC Limited (under the Ministry of Power), developing deep expertise in power sector financing and resource mobilization. Shri Kumar has also served as Chief Executive Officer of REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary, leading strategic initiatives across renewable energy, inter-state transmission projects, and smart metering.

During his tenure at REC Ltd., Shri Kumar has been instrumental in managing diverse and complex financial portfolios, demonstrating exceptional leadership across finance and resource mobilization. He has been instrumental in transforming REC’s domestic resource mobilisation strategy by introducing innovative bond structures including Tax-Efficient Hybrid Bonds, Perpetual Bonds with AAA rating, CBDT-notified Zero Coupon Bonds, and Capital Gain Bonds – consistently expanding the investor base and achieving meaningful reductions in the overall cost of borrowings. He has also provided strategic oversight across multilateral funding, asset liability management, ESG projects, and IT transformation within the organisation.

His knack for innovation led to the structuring of innovative bonds and the initiation of new business policies that enhanced the company’s financial standing. Additionally, he has also supported the organization in addressing complex tax matters resulting in savings to the corporation. Beyond internal operations, he has contributed to broader sectoral stability by representing REC as a Board Member of various DISCOMs and Transmission Companies, reinforcing his role as a pillar of governance in the industry.

Shri Rajesh Kumar’s appointment comes at a significant juncture as REC undertakes restructuring aimed at achieving scale and efficiency within the public sector NBFCs. As the corporation navigates through this phase of consolidation while continuing to lead the financing of India’s energy transition and infrastructure development, his profound expertise in strategic investments and resource mobilization will be vital in achieving our long-term financial goals.

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