New Delhi: Indian Railway Finance Corporation Ltd. (IRFC) has appointed Ms. Deepa Kotnis, a 1998-batch officer of the Indian Railway Accounts Service (IRAS), as its new Chief Financial Officer (CFO) and Key Managerial Personnel, effective June 30, 2026. The appointment marks a key leadership change in the company’s finance function.
Deepa Kotnis Appointed as CFO of IRFC
The Board of IRFC approved the appointment of Ms. Deepa Kotnis as Chief Financial Officer following her extensive experience within the organisation and the Indian public finance ecosystem.
She will also serve as a Key Managerial Personnel (KMP) of the company with immediate effect from June 30, 2026.
Kotnis currently holds 1000 shares of IRFC and has been confirmed to have no familial or professional relationship with any director or other KMP of the company.
Read also: IRFC Names Ranjay Choudhary as Director (Finance) for 5-Year Term After Ministry Approval
Who is Deepa Kotnis?
Ms. Deepa Kotnis is a senior finance professional from the Indian Railway Accounts Service (IRAS), 1998 batch, with more than 27 years of experience in public finance, infrastructure funding, and regulatory systems.
Her expertise spans multiple domains, including:
- Public finance and infrastructure financial management
- Treasury operations and capital raising
- Public procurement systems
- Pension sector regulation and policy
- Project finance and contract management
Career Highlights and Previous Roles
Before her elevation to CFO, Ms. Kotnis served as Executive Director (Finance) at IRFC, where she played a significant role in financial strategy and operations.
Her career includes several notable assignments across major institutions:
Bangalore Metro Rail Corporation
- Mobilised over USD 1 billion in multilateral and bilateral funding for metro projects
- Contributed to the development of Transit Oriented Development (TOD) policy for Bengaluru
Pension Fund Regulatory and Development Authority (PFRDA)
- Instrumental in designing the National Pension System (NPS) Corporate Model
- Worked closely with the Ministry of Finance on pension reforms and regulatory frameworks
Indian Railways
- Served as Financial Advisor & Chief Accounts Officer (Construction) in South Western Railway
- Managed Traffic Accounts and held additional charge as PFA RWF
Government of Karnataka
- Associated with the Fiscal Policy Institute
Board-Level Experience
- Served as Government Nominee Director on the Board of Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE)
Educational Background
Ms. Kotnis has a strong academic and professional foundation in economics and financial management:
- Master of Arts (Economics), Gokhale Institute of Politics and Economics
- Bachelor of Arts (Honours) in Economics, Rajaram College
- Training in Financial Management, National Institute of Financial Management (now A. N. Jha NIFM)
- Programme in Project, Program and Portfolio Management, Infrastructure Development, and PPP, IIM Bangalore
- Urban Mobility and TOD programme, Institute of Urban Transport
Key Appointment Details
- Name: Ms. Deepa Kotnis
- Position: Chief Financial Officer (CFO) & Key Managerial Personnel
- Effective Date: June 30, 2026
- Shareholding: 1000 shares in IRFC
- Relationship with Directors/KMP: None
What This Appointment Means for IRFC
With her deep expertise in public finance, infrastructure funding, and regulatory frameworks, Ms. Kotnis is expected to strengthen IRFC’s financial governance and operational efficiency. Her experience in capital mobilisation, treasury management, and policy implementation is likely to support IRFC’s continued role as a key financial arm of the Indian Railways.
About IRFC
Indian Railway Finance Corporation (IRFC) is a public sector enterprise under the Ministry of Railways and serves as the primary financing arm of Indian Railways. It is responsible for mobilising financial resources from domestic and international markets to fund railway infrastructure expansion and rolling stock procurement, playing a crucial role in supporting the development and modernisation of India’s rail network.
