REC Limited has announced the appointment of Shri Rajesh Kumar Agarwal as a Nominee Director on its Board. Representing Power Finance Corporation (PFC), the appointment is effective from May 1, 2026. Shri Agarwal, currently the Director (Finance) at PFC, brings over 31 years of extensive experience in the power and financial sectors, bolstering the company’s leadership team with his deep expertise in corporate finance and digital transformation.
Board Appointment Details
Following approval from the Ministry of Power, Shri Rajesh Kumar Agarwal has been appointed to the Board of Directors of REC Limited. Serving as the Nominee Director for Power Finance Corporation (PFC), his tenure officially commenced on May 1, 2026. This appointment aligns with the terms of the Share Purchase Agreement between the Government of India and PFC.
Professional Background and Expertise
Shri Rajesh Kumar Agarwal is a seasoned professional with a career spanning over 31 years in the power and financial industries. He holds a Bachelor’s degree in Commerce (Honours) and is a qualified member of the Institute of Cost Accountants of India. His deep industry knowledge is expected to provide strategic value to the Board.
Since joining PFC in 2009, Shri Agarwal has held various critical roles. His core competencies include:
- Corporate Accounts and Taxation
- Fund Management and Banking
- Lending Policy Compliance
- Restructured Assets Management
- Digital Reform Initiatives
Industry Experience
Before his tenure at PFC, Shri Agarwal gained substantial experience working with prominent organizations such as NTPC, NPCIL, and DTL. His background includes managing complex financial functions, PPA negotiations, and the implementation of key power sector reforms. His addition to the Board is viewed as a significant step in maintaining excellence in financial governance at REC Limited.
Source: BSE
