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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With extensive experience in governance, digital transformation, and public administration, his move to the Tourism Ministry is expected to bring a strong technology-driven approach to the sector. His appointment comes following the movement of Srivatsa Krishna to the Ministry of Minority Affairs.

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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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Shri Pankaj Kumar, an HR veteran with over 28 years of experience across public sector and multinational organizations, brings strategic vision and operational expertise to NLC India. He holds a Master’s in Personnel Management & Industrial Relations from Jiwaji University, an Advanced HRM certification from IIM Ahmedabad, and a PG Program in Digital HR & People Analytics from XLRI Jamshedpur.

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His career, which began as a Trainee Officer in 1998, spans diverse project locations across Sikkim, West Bengal, Arunachal Pradesh, and Bihar. A Fellow Member of the Institute of Cost Accountants of India and a Chartered Financial Analyst, Shri De brings a deep understanding of Indian Accounting Standards (Ind AS), tariff regulations, and corporate governance to his new role. His leadership is expected to play a pivotal role in the financial planning and operational development of SJVN’s expanding energy portfolio.

Sh. Bhupender Gupta, CMD, SJVN, congratulated and warmly welcomed Sh. Parthajit De on assuming the charge of Director (Finance).

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The appointment was made with the approval of the President of India, following the standard selection process involving the Public Enterprises Selection Board (PESB) and the Appointments Committee of the Cabinet (ACC).

In his new role, Shri Natarajan is expected to play a pivotal part in driving commercial operations, enhancing sales strategies, and boosting profitability within an increasingly competitive global steel market.

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