New Delhi: State-owned REC Limited has appointed Rajesh Kumar Agarwal as Nominee Director on its Board with effect from May 1, the company said in a regulatory filing. Presently, Agarwal is serving as Director (Finance) of Power Finance Corporation Ltd (PFC).

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According to REC, the Ministry of Power conveyed the approval of the competent authority for Agarwal’s nomination through an office order dated May 6, 2026, in terms of Clause 5.1 of the Share Purchase Agreement executed between the President of India and PFC on March 20, 2019.

The company further informed stock exchanges that Agarwal is not debarred from holding the office of Director by virtue of any order issued by the Securities and Exchange Board of India (SEBI) or any other authority.

Agarwal has over 31 years of experience across the power and financial sectors. He holds a Bachelor’s degree in Commerce (Honours) and is a Member of the Institute of Cost Accountants of India.

At PFC, where he has been serving since 2009, he has handled several cross-functional assignments covering corporate accounts, taxation, fund management and banking, lending policy compliance, restructured assets management, fund raising and loan disbursement. He has also played a key role in driving digital reforms and strengthening financial reporting systems at the company.

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Before joining PFC, Agarwal worked with major power sector organisations including NTPC, NPCIL and DTL, where he handled finance-related functions as well as tariff matters, power purchase agreement negotiations and implementation of power sector reforms.

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