Power Finance Corporation (PFC) has strengthened its internal audit function by elevating the role to an executive one level below the Board. The Board of Directors approved this change to align with global governance best practices and reinforce the third line of defence in risk management.
D. V. Subba Rao, Executive Director at PFC, has been appointed Head of Internal Audit for a three-year term or until his superannuation, whichever is earlier. A finance professional with over 20 years’ experience, Rao will now lead internal controls, risk management, and governance oversight at a senior executive level.
This move underscores PFC’s commitment to transparency, accountability, and robust oversight as it continues financing India’s power and infrastructure sectors.
About PFC
Power Finance Corporation Ltd. is an Indian public sector company engaged in infrastructure finance activities. Established in 1986, it provides financing for the Indian power sector and is under the administrative control of the Ministry of Power, Government of India. PFC was categorised as “Maharatna” enterprise on October 12, 2021.
