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Presidential Nod for REC and PFC Amalgamation

Newsmantra — Thu, 11 Jun 2026 13:17:55 +0000

NEW DELHI. In a major development for the power sector, REC Limited announced that the Ministry of Power has conveyed the competent authority’s approval for its proposed merger into Power Finance Corporation Limited. This follows a decision by REC’s Board on May 16, 2026, to reserve the proposal for the President of India’s approval. The formal regulatory disclosure was submitted to the stock exchanges under Regulation 30 of the SEBI Listing Regulations.

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PESB recommended the name of Dr. Ranjay Choudhary as IRFC Director (Finance)

Newsmantra — Fri, 10 Apr 2026 05:35:21 +0000

NEW DELHI. PESB has selected Dr. Ranjay Choudhary after rigorous evaluation of 11 senior finance leaders to strengthen Indian Railway Finance Corporation’s funding and development strategy .Dr. Ranjay Choudhary is currently holding the position Chief General Manager, Power Finance Corporation Limited

The following professionals interviewed during the selection included:

Sunil Kumar Goel – Executive Director (Finance), IRFC
Jatin Kumar Nayak – Executive Director (Finance), REC Limited
Mohan Lal Kumawat – Executive Director (Finance – ECB), REC Limited
Dhiraj Mehta – Executive Director (Finance), Indian Renewable Energy Development Agency Limited
Ananga Charan Nayak – Director (Finance), Sagarmala Finance Corporation Limited
Ranjay Choudhary – Chief General Manager, Power Finance Corporation Limited
Mohammad Salim – Chief General Manager, Power Finance Corporation
Harish Chandra – Principal Executive Director (Finance) & CFO, Container Corporation of India Limited
Sanjeev Gupta – Executive Director, Dedicated Freight Corridor Corporation of India Limited
Pramod Jain – Chief General Manager (Treasury), Indian Oil Corporation Limited
Randhir Sahay – Director (Finance) & CFO, IRFC

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PFC and MECON Forge Strategic Alliance for Infrastructure and Energy Growth

Newsmantra — Mon, 16 Feb 2026 08:03:36 +0000

NEW DELHI. Power Finance Corporation (PFC), a Maharatna NBFC, and MECON Limited, a Miniratna CPSE under the Ministry of Steel, have signed a Memorandum of Understanding (MoU) to synergize financial expertise with engineering excellence. Signed on February 13, 2026, in New Delhi in the presence of CMDs Smt. Parminder Chopra and Shri Sanjay Kumar Verma, the agreement establishes a framework for MECON to provide technical consultancy, project management, and feasibility audits for large-scale infrastructure projects funded by PFC. Beyond traditional sectors like transport and logistics, the partnership will focus heavily on sustainable transitions, including green hydrogen, waste-to-energy, and carbon management, effectively accelerating India’s journey toward a resilient and green energy economy.

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