In a significant move, the Centre announced on Wednesday the appointment of Manoj Kumar Dubey (IRAS: 1993) as the new Chairman & Managing Director (CMD) of Indian Railway Finance Corporation Limited (IRFC), a key public sector undertaking with a market capitalisation of INR 2.01 trillion. Dubey, currently serving as Director (Finance) at CONCOR, takes charge after more than two years of ad-hoc leadership, with Shelly Verma (Director, Finance, IRFC) acting as interim CMD.
IRFC, the dedicated financing arm of Indian Railways since its inception in 1986, plays a crucial role in funding the expansion and modernization of Indian Railways. The corporation has facilitated the acquisition of 13,349 locomotives, 73,979 passenger coaches, and 2,59,661 freight wagons, and continues to be instrumental in augmenting the annual plan outlay of Indian Railways by securing funds from both domestic and international markets.
