The Government of India has appointed Ranjay Choudhary as Director (Finance) of Indian Railway Finance Corporation Limited (IRFC).
The appointment has been made with the approval of the President of India and conveyed through the Ministry of Railways. Choudhary will be based at IRFC’s headquarters in Delhi.
Five-Year Tenure
Ranjay Choudhary’s tenure as Director (Finance) will run from June 30, 2026, in the afternoon, to June 30, 2031, or until further orders, whichever is earlier.
The appointment is subject to the applicable provisions of the Companies Act, 2013.
Pay and Service Conditions
Choudhary will receive the Board-level executive pay applicable to the post, with the pay scale fixed at ₹1,80,000–₹3,40,000 under the 2017 pay scale and a basic pay of ₹1,80,000 per month.
He will also be eligible for Dearness Allowance, House Rent Allowance, Performance Related Pay (PRP), superannuation benefits and other applicable benefits in accordance with Department of Public Enterprises guidelines for Board-level executives of CPSEs.
Performance Review After First Year
The appointment provides for a performance review after the completion of the first year.
The Government will assess his performance at that stage before deciding on his continuation for the remaining period of the approved tenure.
Appointment Can Be Terminated With Notice
Under the terms of appointment, either side can terminate the arrangement by providing three months’ notice or by making a payment equivalent to three months’ salary in lieu of the notice period.
Key Finance Role at IRFC
As Director (Finance), Ranjay Choudhary will take on a key Board-level responsibility at IRFC, which is the financing arm of the Indian Railways.
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The appointment places him in charge of an important financial function within the organisation as IRFC continues to support funding requirements for railway infrastructure and related projects.
With the latest appointment, Ranjay Choudhary will serve as Director (Finance), IRFC, for the approved tenure up to June 30, 2031, subject to further government orders and the applicable service conditions.