New Delhi: The Public Enterprises Selection Board (PESB) on December 17, 2025, decided not to recommend any candidate for the post of Director (Finance) at Rail Vikas Nigam Limited (RVNL), following its selection meeting. The decision highlights the board’s insistence on identifying the most suitable candidate for the critical board-level position in the railway infrastructure PSU.
PESB Meeting and Decision
The decision was taken during PESB Meeting No. 121/2025, which began at 3:45 PM. After a thorough evaluation and interviews of the shortlisted candidates, the board concluded that none of the ten professionals met the standards required for recommendation at this stage.
Next Steps for the Ministry
According to the official minutes (Minute No. 4), PESB has advised the Administrative Ministry/Department to decide the next course of action. This may include initiating a Search-cum-Selection Committee (SCSC) process or adopting any other suitable mechanism for selecting a candidate, subject to approval from the competent authority. The ministry’s timely decision is crucial to fill this strategic finance leadership role at RVNL.
Candidates Interviewed
The ten senior finance professionals considered for the position were drawn from leading PSUs and Indian Railways. They included:
- Mr. Mahesh Chand Bansal – Senior Executive Director (Finance), NBCC (India) Limited
- Mr. Alin Roy Choudhury – CFO & CGM (Finance), IRCON International Limited
- Mr. Jatin Kumar Nayak – Executive Director (Finance), REC Limited
- Mr. Satish Kumar Sinha – Executive Director (Finance & Accounts), GAIL (India) Limited
- Mr. Ajay Sinha – CGM (Finance – Business Development), Indian Oil Corporation Limited
- Ms. Anju Thakur – Executive Director (Finance – Corporate Accounts & Taxation), HUDCO
- Mr. Nirmal Kumar Singh – Chief General Manager, SAIL
- Mr. Pankaj Gupta – General Manager, GAIL (India) Limited
- Mr. Raj Krishan – General Manager (Finance & Accounts), ONGC
- Mr. Amar Jit Gautam – Principal Financial Advisor, North Eastern Railway
Despite their extensive experience and credentials, PESB did not find any of the candidates fully suitable for the high-level responsibilities associated with the Director (Finance) role.
Importance of the Post
The Director (Finance), RVNL position is a Schedule ‘A’ board-level role. The role is crucial for overseeing the company’s financial strategy, capital structuring, and project financing for railway infrastructure development across India. The post will remain vacant until a fresh selection process is finalized and approved.
About Rail Vikas Nigam Limited (RVNL)
RVNL is a central public sector undertaking under the Ministry of Railways, responsible for the implementation of railway infrastructure projects across India. Established to support India’s ambitious rail development plans, RVNL plays a key role in enhancing connectivity, promoting efficient project execution, and ensuring timely completion of strategic rail projects nationwide.
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