REC Limited Appoints Rajesh Kumar as Director (Finance) and CFO

REC Limited has announced that Rajesh Kumar has assumed charge as Director (Finance) and Chief Financial Officer (CFO) of the company, effective April 2, 2026.

The appointment was approved by the Appointments Committee of the Cabinet (ACC) on March 25, 2026, following a proposal from the Ministry of Power, for a tenure of five years.

According to the company, the Board of Directors formally approved the appointment at its meeting held on April 15, 2026, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rajesh Kumar is a seasoned finance professional with over 30 years of experience in the public sector, particularly in power and infrastructure financing. His expertise spans accounts, taxation, audit, treasury, project appraisal, and regulatory compliance. He holds a Bachelor’s degree in Commerce from Shri Ram College of Commerce, University of Delhi, and is a qualified Chartered Accountant (CA) and Cost & Management Accountant (CMA).

Prior to this elevation, Kumar served as Executive Director (Finance) at REC Limited, where he played a key role in shaping the company’s financial strategy and growth. His career also includes extensive experience within central public sector enterprises and over two decades of service at REC under the Ministry of Power.

He has also served as Chief Executive Officer of REC Power Development and Consultancy Limited (RECPDCL), where he led initiatives in renewable energy, interstate transmission projects, and smart metering solutions.

During his tenure at REC, Kumar played a significant role in strengthening the company’s resource mobilisation strategy by introducing innovative bond instruments, including tax-efficient hybrid bonds, perpetual AAA-rated bonds, CBDT-notified zero coupon bonds, and capital gain bonds. These initiatives helped broaden the investor base and reduce overall borrowing costs.

He also provided strategic oversight in multilateral funding, asset-liability management, ESG initiatives, and IT transformation, while contributing to tax efficiency measures and operational improvements.

In addition, he has represented REC on the boards of various DISCOMs and transmission companies, contributing to sectoral governance and oversight.

REC noted that the appointment comes at a time when the company is undergoing restructuring to improve scale and operational efficiency within the public sector NBFC space. The company added that his expertise in financial strategy and resource mobilisation will be key to supporting India’s ongoing energy transition and infrastructure development goals.