A seasoned professional with extensive experience in the power sector, Shri Packirisamy has held several key leadership positions during his distinguished career. His deep understanding of the sector and proven track record are expected to add significant value to PFC’s ongoing efforts in supporting India’s growing energy and infrastructure requirements.

The appointment comes at a crucial time as PFC continues to play a pivotal role in financing the country’s power and infrastructure sectors. The PFC family looks forward to Shri Packirisamy’s valuable contributions and wishes him every success in his new role as the organization advances its commitment to India’s energy transition and sustainable development.

The award was received on behalf of REC by Shri Alok Kumar, CPM, REC Regional Office, Mumbai, during the award ceremony.

This recognition reflects REC’s continued commitment towards responsible financing, sustainable growth, and operational excellence. It also underscores the organisation’s unwavering dedication towards contributing to nation-building initiatives, maintaining stakeholder trust, and delivering long-term value across the financial ecosystem.

REC has consistently played a pivotal role in supporting India’s power and infrastructure development through innovative financial solutions and strategic investments aligned with the nation’s growth priorities.

The accolade further reinforces REC’s position as one of India’s leading NBFCs committed to excellence, transparency, and sustainable development.

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.

The InvIT market has witnessed steady expansion in both asset base and investor participation. As of date, the total assets under management (AUM) across listed InvITs is Rs. 7 lakh crores, with a diversified portfolio of operational infrastructure assets across the country with sectors including roads, transmission, renewable energy, and other core infrastructure segments.

Since inception, InvITs have cumulatively distributed Rs. 83,770 crores to unitholders, reinforcing their role as a key instrument for monetizing infrastructure assets.

This growth has been strongly supported by Government’s continued focus on infrastructure development as a key driver of economic growth. Additionally, regulatory support, including streamlined guidelines and measures to deepen capital markets, has enhanced the attractiveness of InvITs as an investment vehicle.

Bharat InvITs Association sees growing interest from domestic and global institutional investors, with InvITs emerging as an important avenue for long-term capital deployment into India’s infrastructure sector. This is further reflected in the strong growth in distributions during the third quarter, backed by stable operational performance and predictable cash flows from underlying assets.

“The steady growth in distributions during the third quarter reflects the resilience of underlying assets and the strength of the InvIT sector. Supported by continued government and regulatory support and growing investor confidence, InvITs are well-positioned to support India’s infrastructure financing needs. The InvIT ecosystem is entering a new phase of expansion, with increasing participation from domestic and global investors and a strong pipeline of quality assets. As the sector evolves, InvITs will continue to unlock value, enable efficient capital recycling, and deepen India’s infrastructure investment landscape.”- Mr. N S Venkatesh, CEO Bharat InvITs Association

As India accelerates infrastructure development, InvITs are expected to play a central role in unlocking capital, enabling efficient asset recycling, and deepening long-term infrastructure financing markets.