New Delhi: Indian Railway Finance Corporation Limited has announced the appointment of Ranjay Choudhary as Director (Finance), following approval from the Ministry of Railways, Government of India. The appointment marks a key leadership change at the state-owned railway financing company, which plays a central role in funding Indian Railways’ expansion and infrastructure projects.
The disclosure was made in compliance with SEBI (LODR) Regulations, 2015, through a regulatory filing submitted to stock exchanges on 29 June 2026.
Appointment Details of Ranjay Choudhary
As per the official filing, Ranjay Choudhary, currently serving as Chief General Manager at Power Finance Corporation Limited, has been appointed as Director (Finance) at IRFC.
Key details of the appointment include:
- Post: Director (Finance), IRFC
- Pay Scale: ₹1,80,000 – ₹3,40,000 (IDA pattern)
- Tenure: Five years from the date of assuming charge or until further orders, whichever is earlier
- Approval Authority: Ministry of Railways, Government of India
- Communication Order Date: June 29, 2026
IRFC stated that the appointee will assume charge after completing necessary formalities, following which further disclosures will be made in accordance with regulatory requirements.
Extension of Additional Charge for Interim Finance Director
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.
Key points include:
- Sahay currently serves as ED/F(S), Railway Board
- He had been holding additional charge of Director (Finance), IRFC
- Extension granted for six months with effect from May 1, 2026
- The arrangement will remain valid until the new incumbent assumes office
This ensures continuity in financial leadership until the new Director (Finance) formally takes charge.
Regulatory Compliance and Exchange Disclosure
Indian Railway Finance Corporation Limited confirmed that the appointment and related approvals were disclosed under Regulation 30 and 51(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The filing was signed by Vijay Babulal Shirode, Company Secretary & Compliance Officer of IRFC. The company also stated that it is completing all procedural formalities related to the appointment and will submit additional updates as required.
Strategic Importance of the Appointment
The appointment comes 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. Strengthening financial leadership is expected to support efficient capital management and long-term infrastructure funding plans.
About IRFC
Indian Railway Finance Corporation is the dedicated financing arm of Indian Railways and a listed public sector enterprise under the Ministry of Railways. The company plays a pivotal role in mobilizing funds for railway infrastructure, rolling stock acquisition, and related projects, ensuring sustained financial support for one of India’s most critical growth engines.
