New Delhi: Indian Railway Finance Corporation (IRFC) a PSU under the Ministry of Railways announced the appointment of Chief Risk Officer (CRO) on Friday. According to the company Swachhand, who is currently serving as Deputy General Manager (Finance), has been appointed as CRO of IRFC. He has been appointed to the post for a period of one year in place of Debasish Rout, Deputy General Manager (Finance). This information has been shared by the Railways PSU in a regulatory filing to the stock exchanges on Friday.
"The appointment of CRO has been approved by the Risk Management Committee (RMC) as well as by the Board of Directors of the Company by way of circular resolutions dated September 9, 2021, and September 10, 2021, respectively," the company further informed to the stock exchanges.
Indian Railway Finance Corporation (IRFC) was set up on December 12, 1986, as the dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas capital markets. It is a Miniratna PSU under the administrative control of the Ministry of Railways. It is also registered as a Systemically Important Non–Deposit taking Non-Banking Financial Company (NBFC) and Infrastructure Finance Company (NBFC) with Reserve Bank of India (RBI). The primary objective of IRFC is to meet the predominant portion of Extra Budgetary Resources (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms.
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