https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

HUDCO’s Sudhakar Babu Recommended as MD of Sagarmala Finance Corporation By PESB – Know More!

10 Candidates Interviewed, HUDCO ED Emerges as Top Pick for Sagarmala MD Post
Indian Masterminds Stories

New Delhi: In a key development in the maritime finance sector, the Public Enterprises Selection Board (PESB) has recommended Lagadapati Venkata Srinivasa Sudhakar Babu for the position of Managing Director (MD) of Sagarmala Finance Corporation Limited (SFCL), a Schedule ‘B’ Central Public Sector Enterprise under the Ministry of Ports, Shipping and Waterways.

The recommendation was made following PESB Meeting No. 70/2025, held on August 13, 2025, in New Delhi.

Selection Process and Competition

The selection was conducted through a competitive interview process, where 10 senior candidates from various top-tier PSUs and infrastructure companies were considered for the prestigious role. Babu, who currently serves as Executive Director at Housing and Urban Development Corporation Limited (HUDCO), emerged as the panel’s top choice.

read also: HUDCO Joins Har Ghar Tiranga Campaign with Grand 2-Day Celebration at India Habitat Centre, Distributes Over 10,000 Flags

Other contenders for the post included senior executives from:

  • REC Limited
  • RITES Limited
  • Bridge and Roof Company (India) Limited
  • Engineers India Limited
  • Kochi Salem Pipeline Pvt Ltd
  • Coal India Limited
  • Rail Vikas Nigam Limited
  • Inland Waterways Authority of India (IWAI)

About Sagarmala Finance Corporation

Sagarmala Finance Corporation Limited plays a critical role in financing projects under the Sagarmala Programme, a flagship initiative of the Government of India aimed at modernising India’s port infrastructure, improving logistics efficiency, and fostering port-led industrial development.

As MD, Babu will be at the helm of steering SFCL’s strategy and project financing across key maritime and logistics infrastructure sectors.

Next Steps: ACC Approval

The PESB recommendation will now be forwarded to the Appointments Committee of the Cabinet (ACC) for final approval. Upon clearance, Babu will formally assume charge as the Managing Director of SFCL.

About HUDCO

Housing and Urban Development Corporation Ltd. (HUDCO) is a Government of India-owned public sector enterprise under the Ministry of Housing and Urban Affairs (MoHUA). Established in 1970, HUDCO primarily focuses on financing housing and urban infrastructure development projects across India.

About SMFCL

Sagarmala Finance Corporation Limited (SMFCL) has been established as India’s first maritime sector-specific Non-Banking Financial Company (NBFC) aimed at strengthening financial access across India’s maritime ecosystem.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
T-SATS defence innovation
CDS Inaugurates Tri Services Academia Technology Symposium (T-SATS) to Boost Defence Innovation and Collaboration with Academia
SPARSH defence pension
SPARSH Transforms Defence Pension Management: Resolves 87% Legacy Cases, Cuts Grievance Redressal Time by 64%
Gujarat folk art PM mementos
Gujarat Showcases Iconic Folk Art in 7th PM Mementos e-Auction Supporting Namami Gange
Vandana Gupta
Who is Vandana Gupta? Senior IP&TAFS Officer Takes Charge as Controller General of Communication Accounts
COAL-GST
Coal Sector Gets a Boost: GST Reforms Remove Compensation Cess, Align With Aatmanirbhar Bharat Vision
Pawan-K-Godatwar-696x392
Dr. Pawan K. Godatwar’s Tenure Extended as WHO-SEARO Technical Officer for Traditional Medicine Till 2026
India Morocco defence MoU
India and Morocco Sign Defence Cooperation MoU to Boost Strategic, Industrial, and Maritime Ties
Swati Gupta PCS officer
Who Is Swati Gupta? Meet the UP PCS Officer, Tech Graduate, and Viral Social Media Influencer – Why She’s Trending for Facebook Fame
ADVERTISEMENT
ADVERTISEMENT
Videos
Siddhartha Saxena UPSC CAPF
How Siddhartha Saxena Cracked UPSC CAPF AIR 326 Against All Odds
Dr. S.K
Technology Meets Ecology: IFS Dr S K Srivastava’s Game-Changing Innovations in Forest Management | Eco Warrior Awards 2025 Interview
IFS Uttam Kumar Sharma Interview
From Extinction to Exhilaration: The Untold Story and Future Vision of Project Cheetah | Led by IFS Uttam Kumar Sharma | Eco Warrior Awards 2025
ADVERTISEMENT
UPSC Stories
Devanshu Shivhare MPPSC
How This Commercial Tax Inspector Topped MPPSC 2024: Devanshu Shivhare’s 5-Year Journey to Rank 1 | Exclusive Interview
Devanshu Shivhare secured AIR 1 in MPPSC 2024 in his fourth attempt while working full-time. His disciplined,...
Ishwarlal Gurjar UPSC
10th Grade Failure to Indian Police Service: Ishwarlal Gurjar’s UPSC Success Path
Read the inspiring journey of Ishwarlal Gurjar from a small village in Rajasthan to becoming an IPS officer....
IAS Minnu P M
“Lazy, Sleepy, Yet Determined”: Minnu P M’s Honest Take on Cracking UPSC
Minnu PM, once a clerk in Kerala Police, cleared UPSC with AIR 150 after five years of struggle. Her...
Social Media
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
WhatsApp Image 2025-09-22 at 16.06
How IFS Officer Vejayanantham TR Turned South Betul into a High-Tech Fortress
T-SATS defence innovation
CDS Inaugurates Tri Services Academia Technology Symposium (T-SATS) to Boost Defence Innovation and Collaboration with Academia
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Siddhartha Saxena UPSC CAPF
Dr. S.K
IFS Uttam Kumar Sharma Interview
ADVERTISEMENT
ADVERTISEMENT