Govt appoints Rohit Rishi as MD of IIFCL

New Delhi: The Government on Tuesday appointed Rohit Rishi as Managing Director of India Infrastructure Finance Company Ltd (IIFCL) for three years.

Rishi, currently the Executive Director of Bank of Maharashtra, is to succeed PR Jaishankar, who demitted office in May after completing a five-year tenure.

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The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, has approved the appointment of Rishi for a period of three years from the date of his taking over the charge of the post or until further orders, whichever is earlier, sources said.

IIFCL is a wholly owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a special purpose vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

The authorised and paid-up capital of the company stood at Rs 10,000 crore and Rs 9,999.92 crore, respectively, as on March 31, 2025. IIFCL has been registered as an NBFC-ND-IFC with the Reserve Bank of India (RBI) since September 2013 and follows the applicable prudential norms of the Reserve Bank of India.

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