IRFC Appoints Ranjay Choudhary as Director (Finance) & 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 these roles.
The appointment of a Director (Finance) and CFO is a significant internal development that can impact strategic financial decisions and operations.
The appointment of key financial leadership positions is generally positive for corporate governance and operational continuity.
Indian Railway Finance Corporation Limited (IRFC) announced significant board appointments following a meeting held on June 30, 2026. The Board has co-opted Shri Ranjay Choudhary as an Additional Director, designated as Director (Finance), for a period of five years, effective from June 30, 2026. This appointment is based on an order from the Ministry of Railways.
Shri Choudhary is a seasoned finance professional with over 29 years of experience in finance and accounts, loan appraisal, and corporate financial raising. He holds a PhD in Finance from Ranchi University and has previously held key roles at Power Finance Corporation Limited (PFC).
Concurrently, 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 is an Indian Railway Accounts Service (IRAS) officer with over 27 years of experience in public finance, infrastructure funding, and financial management. She has previously served as Executive Director (Finance) at IRFC and held various leadership positions within Indian Railways and other government entities.
Following these appointments, Shri Randhir Sahay will cease to hold the additional charge of Director (Finance) and the office of Chief Financial Officer (CFO) of the Company, effective from June 30, 2026. 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 board 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.