REC Ltd Strengthens Leadership with Appointment of Jitendra Srivastava

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Jitendra Srivastava, a 2000-batch Indian Administrative Service (IAS) officer from the Bihar cadre, as the new Chairman and Managing Director (CMD) of REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power.

Srivastava steps into the role with the rank and pay of Additional Secretary to the Government of India. Prior to this appointment, he was serving as Joint Secretary in the Department of Drinking Water and Sanitation, Ministry of Jal Shakti. He takes over from Parminder Chopra, CMD of Power Finance Corporation (PFC), who had been holding additional charge of REC CMD following the departure of Shri Vivek Kumar Dewangan (IAS, Manipur 1993).

REC Ltd, formerly Rural Electrification Corporation, is a key financial institution in the power sector, supporting rural electrification through financing of generation, transmission, and distribution projects. As of December 2024, REC reported a loan book of ₹5.66 lakh crore, with 88% of its exposure to the state sector, and a net worth of ₹76,502 crore. It was ranked 9th in net profit among CPSEs for FY 2023–24.

An alumnus of Hansraj College, Delhi University, Srivastava holds an MBA in Finance from Cochin University, where he earned a silver medal. His administrative experience in Bihar spans roles such as Secretary in the Home and PHED departments, Chairman of PWD (Bridges & Roads), Divisional Commissioner of Gaya, and District Magistrate in various districts. His portfolio has included infrastructure, water, education, health, and energy sectors, bringing a broad governance perspective to his new role at REC.