Wednesday, July 6, 2022

Govt appoints Rajiv Ranjan Jha as Director (Projects) of PFC Limited

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New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rajiv Ranjan Jha as Director (Projects) of Power Finance Corporation (PFC) Limited on Tuesday. According to an order from the Department of Personnel & Training (DoPT), he has been appointed to the post with effect from the date of his assumption of the charge of the post till the date of his superannuation i.e. April 30, 2026, or until further orders, whichever is earlier. He is currently serving as Executive Director in the same Maharatna Power PSU.

Earlier, PSU Watch had reported when Jha was recommended for the PFC’s Director (Projects) post by the PESB panel on July 5. He was selected for the post from a list of six candidates, who were interviewed by the selection panel. Out of six candidates, five were from PFC and one candidate was from REC Limited.

As Director (Projects) of PFC, Jha will be a member of the board of directors and will report to the Chairman and Managing Director (CMD). He also will be responsible for developing and enforcing sound strategy for effective marketing of products to carry out the lending operations, encompassing techno-commercial appraisal of projects identified and ensuring sound and effective follow-up mechanism to the timely implementation of projects financed thus ensuring an adequate return on investment.

Power Finance Corporation (PFC)

Power Finance Corporation (PFC) Limited is now a Maharatna PSU under the ownership of the Ministry of Power. Established in 1986, it is the financial backbone of the Indian Power Sector. PFC is the 8th highest profit-making CPSE as per the Department of Public Enterprises Survey for FY 2017–18. PFC is India's largest NBFC and also India's largest infrastructure finance company.

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