Rajesh Kumar Agarwal has been recommended for appointment as Director (Finance) of Power Finance Corporation Limited (PFC), a public sector undertaking under the Ministry of Power. The recommendation was made by the Public Enterprises Selection Board (PESB) on Wednesday, according to officials familiar with the process.
Agarwal is currently serving as Executive Director (Finance) at PFC and hao9s been associated with the organisation’s financial operations and strategy. His selection followed interviews of 11 candidates shortlisted for the role.
As per PESB records, the selection process saw participation from senior finance professionals across major public sector entities, including REC Limited, Indian Renewable Energy Development Agency Limited (IREDA), Indian Oil Corporation Limited (IOCL), and Patratu Vidyut Utpadan Nigam Limited, among others.
The post of Director (Finance) is a key board-level position at PFC, with responsibility for overseeing the company’s financial planning, capital management, fundraising activities, and regulatory compliance. PFC, a leading non-banking financial company in the power sector, plays a central role in financing electricity generation, transmission, distribution, and related infrastructure projects across the country.
An official aware of the development said, “The recommendation reflects continuity in leadership, given Agarwal’s familiarity with PFC’s financial operations and sectoral priorities.”
The PESB recommendation will now be forwarded to the Appointments Committee of the Cabinet (ACC) for final approval. Subject to clearance, Agarwal is expected to assume charge as Director (Finance) in the coming months.