New Delhi: IFCI Limited, the government-owned development finance institution, has announced the appointment of Mr. Rajeev Sachdev as an Additional Director (Non-Executive-Non-Independent) on its Board of Directors, effective August 25, 2025. This strategic move aims to strengthen the company’s leadership by leveraging Sachdev’s extensive experience in the financial services sector.
A Veteran from LIC with Over 37 Years of Experience
Rajeev Sachdev brings a wealth of knowledge from his distinguished career at the Life Insurance Corporation of India (LIC), where he served for more than 37 years. Holding a Bachelor of Science degree in Physics, Sachdev began his career as a Direct Recruit Officer on February 22, 1988. Over the decades, he has held pivotal roles across LIC’s branch, divisional, zonal, and corporate offices, gaining deep insights into insurance, housing finance, and credit card sectors.
Diverse Roles Strengthening His Expertise
Prior to joining IFCI, Sachdev held significant positions such as the Director and Chief Executive of LIC Cards Services Limited—a wholly owned subsidiary of LIC of India. Additionally, he worked with LIC Housing Finance Limited and served as an Insurance Ombudsman, further broadening his leadership experience and understanding of the financial ecosystem.
Contribution Expected to Drive IFCI’s Strategic Growth
IFCI Limited expects Mr. Sachdev’s leadership and technical expertise to add immense value to its board deliberations and strategic initiatives. His multifaceted experience across insurance, finance, and customer service sectors is poised to support IFCI in enhancing its business growth and navigating the dynamic financial landscape.
Compliance and Independence
The company has confirmed that Rajeev Sachdev is not barred by any regulatory authority from holding the position of Director. Furthermore, he is not related to any existing member of the Board, ensuring compliance with corporate governance norms.
About IFCI
IFCI Limited is a Public Sector Undertaking (PSU) or a state-owned firm, as the Government of India holds a majority stake (over 51%) in the company. The government increased its shareholding to become the majority owner in April 2015, thus making IFCI a “Government Company” under the Companies Act, 2013.
