New Delhi: IFCI Limited, a Government of India undertaking, has re-appointed Mr. Jagdish Garwal as the Chief Risk Officer (CRO) of the company for a one-year term from March 1, 2026, to February 28, 2027. The announcement follows the completion of his previous tenure on February 28, 2026, and is in compliance with SEBI LODR Regulations and RBI NBFC-Governance Directions.
The disclosure was officially made to the National Stock Exchange of India (NSE) and BSE Limited, ensuring adherence to corporate governance norms under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Tenure Extension and Regulatory Compliance
Mr. Jagdish Garwal’s re-appointment aligns with RBI’s NBFC-Governance Directions dated November 28, 2025, reinforcing IFCI’s commitment to robust risk management, transparency, and regulatory compliance.
The new tenure ensures continuity in leadership in critical risk management functions, supporting IFCI’s operational stability and governance framework.
Read also: IFCI Limited Appoints Manikumar Sivaramakrishnan as Deputy Managing Director for Three-Year Term
Professional Background of Mr. Jagdish Garwal
Mr. Garwal brings over 32 years of experience with IFCI and its subsidiaries, having worked across key departments including:
- Information Technology (IT)
- Sugar Development Fund
- Vigilance
- Recovery
- Internal Audit
He has served as IFCI’s Chief Risk Officer for the past two years.
His academic and professional qualifications include:
- B.E. in Computer Engineering
- MBA
- LLB
- Certified Associate of the Indian Institute of Bankers (CAIIB)
Mr. Garwal’s extensive experience across technical, financial, and compliance domains positions him to continue driving risk mitigation, policy implementation, and regulatory adherence at IFCI.
Significance of the Appointment
The re-appointment ensures:
- Leadership continuity in IFCI’s risk management framework
- Strengthening of corporate governance practices
- Compliance with SEBI and RBI guidelines
- Stability in strategic decision-making and operational risk oversight
IFCI highlighted that this re-appointment reflects its ongoing focus on transparency, accountability, and effective risk management while adhering to best-in-class governance standards.
About IFCI Limited
IFCI Limited, established in 1948, is a premier Government of India financial services company specializing in providing long-term finance and advisory services to industrial and infrastructure projects. Headquartered in New Delhi, IFCI plays a critical role in promoting industrial growth, supporting public and private sector initiatives, and fostering financial inclusion. The company operates under a strong regulatory and governance framework and continues to contribute to India’s economic development through innovative financing solutions.
Read also: IFCI Limited Faces Rs 13.64 Crore Additional Tax Demand for AY 2019-20; No Financial Impact Expected
