New Delhi: The Public Enterprises Selection Board (PESB) has recommended Rajesh Kumar for appointment as Director (Finance) of REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power. The recommendation follows interviews conducted by the PESB on December 13, 2025.
The proposal is now set to be forwarded to the Appointments Committee of the Cabinet (ACC) for final approval, subject to vigilance clearance and other formalities.
Succession and Current Role
Rajesh Kumar is currently serving as Executive Director (Finance) at REC Limited. Upon approval, he will succeed Harsh Baveja, the incumbent Director (Finance), who is scheduled to superannuate on January 31, 2026.
Read also: REC Ltd Completes Post-Issuance Assurance for USD 500 Million and JPY 61.10 Billion Green Bonds
Competitive Selection Process
A total of 12 candidates were interviewed by PESB for the post of Director (Finance), drawn from leading power sector CPSEs and financial institutions. Some notable candidates included:
- Sanjeev Gupta – Executive Director, Dedicated Freight Corridor Corporation of India Limited
- Pawan Kumar – Executive Director & Chief Compliance Officer, Power Finance Corporation Limited
- Rajesh Kumar Agarwal – Executive Director (Finance), Power Finance Corporation Limited
- Jatin Kumar Nayak – Executive Director (Finance), REC Limited
- Subrata Aich – Executive Director & Chief Risk Officer, REC Limited
The selection process underscores PESB’s focus on experience and expertise in finance and the power sector.
About Rajesh Kumar
Education: Chartered Accountant (CA), Institute of Chartered Accountants of India; Cost Accountant (CMA), Institute of Cost Accountants of India
Professional Experience:
- Executive Director, REC Limited (Jul 2024 – Present)
- CEO, REC Power Distribution & Consultancy Company Limited (Jul 2023 – Jul 2024)
- Chief General Manager, Finance, REC Limited (Jan 2006 – Jul 2024)
- Finance Manager, WAPCOS Limited (1996 – Dec 2005)
Rajesh Kumar brings over 28 years of experience in finance, banking, investment banking, and power sector consultancy.
Next Steps
The final appointment will be made after ACC approval, following clearance from vigilance authorities. This move is expected to ensure continuity in REC’s financial leadership as the Maharatna CPSE continues to implement its energy and electrification projects across India.
About REC Limited
REC Limited is a prominent public sector undertaking under the Ministry of Power, Government of India, headquartered at Core-4, SCOPE Complex, New Delhi, with its corporate office in Gurugram, Haryana. The company plays a crucial role in financing and supporting India’s renewable energy and power infrastructure projects, contributing significantly to the nation’s energy security and sustainable development goals.
Read also: REC Limited Achieves Top ESG Rating Among Financial Institutions in NSE ESG Rankings
