IRFC Appoints Ranjay Choudhary as Director (Finance) and Deepa Kotnis as CFO
IRFC appointed Shri Ranjay Choudhary as Director (Finance) and Ms. Deepa Kotnis as CFO, both effective June 30, 2026. Choudhary brings over 29 years of finance experience, while Kotnis has over 27 years in public finance and infrastructure funding. Shri Randhir Sahay will step down from additional charges.
Key management changes, especially in finance roles, can have a medium-term impact on strategic decision-making and operational execution. However, the appointments are within the existing framework of government-appointed officials, suggesting continuity.
The announcement pertains to routine management appointments and changes, which are standard corporate governance procedures and do not inherently indicate a positive or negative shift in the company's financial performance or outlook.
Indian Railway Finance Corporation Limited (IRFC) announced key leadership appointments following a Board of Directors meeting held on June 30, 2026.
Shri Ranjay Choudhary has been co-opted as an Additional Director, designated as Director (Finance), for a five-year term effective from June 30, 2026. This appointment is in accordance with an order from the Ministry of Railways. Shri Choudhary brings over 29 years of experience in finance and accounts, with a background in loan appraisal, corporate finance, and government policy initiatives. He previously served as Chief General Manager at Power Finance Corporation Limited.
Ms. Deepa Kotnis has been appointed as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, also effective from June 30, 2026. Ms. Kotnis, an Indian Railway Accounts Service officer with over 27 years of experience, has held significant roles in public finance, infrastructure funding, and financial management within various government entities, including her recent position as Executive Director (Finance) at IRFC.
Upon Shri Choudhary assuming charge, Shri Randhir Sahay will cease to hold the additional charge of Director (Finance) and the office of CFO. The Board meeting commenced at 12:15 p.m. and concluded at 12:30 p.m.
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Indian Railway Finance Corporation Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Indian Railway Finance Corporation Limited. Read the original for the full detail.