The board of Indian Railway Finance Corporation has co-opted Dr Ranjay Choudhary as an Additional Director designated as Director (Finance) on the Board of the Company. According to the latest regulatory filing, this appointment was made during the board meeting held on 30 June 2026 and received Ministry of Railways approval on 29 June 2026. The disclosure was made in compliance with SEBI (LODR) Regulations, 2015, through a regulatory filing submitted to stock exchanges on 29 June 2026. Dr Choudhary's appointment is for a period of five years with effect from the date of his assumption of charge of the post i.e. 30 June 2026, as per the latest board resolution.
The board has also appointed Ms Deepa Kotnis as the new Chief Financial Officer (CFO) and Key Managerial Personnel of the company with immediate effect. As per the official filing, Ms Kotnis is a 1998-batch officer of the Indian Railway Accounts Service (IRAS) and brings more than 27 years of experience in public finance and infrastructure management. Her expertise includes capital raising, budgeting, treasury operations and regulatory compliance. The leadership transition comes at an important time as IRFC continues to play a major role in funding India's railway modernisation and infrastructure growth.
According to the regulatory filing, Dr Ranjay Choudhary holds DIN: 11796981 and brings nearly 29 years of experience in finance, accounts, lending policy, treasury management and infrastructure funding. In a parallel development, the Ministry of Railways has granted ex-post facto approval for the extension of additional charge of Director (Finance) to Randhir Sahay, who currently serves as ED/F(S), Railway Board. The extension was granted for six months with effect from May 1, 2026 and will remain valid until the new incumbent assumes office. Following these appointments, Randhir Sahay has stepped down from the additional charge of Director (Finance) and CFO with effect from June 30.
The comprehensive leadership appointments aim to strengthen IRFC's financial management and support future growth in railway financing. Dr Choudhary previously served as Chief General Manager at Power Finance Corporation Limited where he handled loan appraisal for major power and infrastructure projects. His experience is expected to support IRFC in raising funds efficiently for future railway expansion. The appointments come at a crucial time for IRFC, which continues to play a major role in financing the modernization, expansion, and rolling stock procurement of Indian Railways. As reported by Business Standard, strengthening financial leadership is expected to support efficient capital management and long-term infrastructure funding plans.
