New Delhi: Rakesh Kumar Jain has assumed charge as Director (Finance) of GAIL (India) Limited, a Maharatna PSU under the Ministry of Petroleum & Natural Gas (MoPNG), on Wednesday. Prior to this, he was serving as Executive Director (Finance & Accounts) in the same organisation. According to a DoPT order issued on November 29, Jain has been appointed as Director (Finance) of GAIL for a period with effect from December 1, 2021, till June 30, 2026, i.e., the date of his superannuation, or until further orders, whichever is earlier. He was recommended for the post by the PESB panel in a selection meeting held on August 27.
Jain is a Cost and Management Accountant by profession. He started his career in the company as a Management Trainee and gathered a rich experience of nearly 30 years as he rose through the ranks to his present position. Jain has worked in the areas of Corporate Finance and Treasury including Forex Risk Management, Capital Budgeting, Corporate Budgets, Corporate Accounts, Finalization of Long Term international LNG and Gas Agreements, Pricing, Liquefaction and Regasification Terminal Service Agreement, Mergers & Acquisitions, Taxation, Regulatory aspects etc.
Besides serving a long tenure at GAIL, he was on deputation to Petroleum and Natural Gas Regulatory Board (PNGRB) as Joint Director (Commercial and Finance). During his stint at PNGRB, he was actively engaged in the review of tariff regulations, the conceptualization of unified tariff, authorization of CGD 9th & 10th bidding rounds, and finance functions etc. He has also worked in almost all business verticals of GAIL including GAIL’s largest Petrochemical plant at Pata.
In addition to the above, Jain holds the position of Director in Indraprastha Gas Limited (IGL). Earlier he was on the Board of Ratnagiri Gas and Power Pvt. Ltd (RGPPL). As Executive Director (Finance & Accounts), he headed the Corporate Finance and Treasury section in the large mobilisation of funds from domestic and international markets and took investment decisions in large infrastructure projects. He was also actively involved in Investor relations and interactions with the Analysts fraternity.
He joined GAIL in 1992 and has been a part of the growth trajectory of the company.
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