Ministry of Power, Govt. of India has assigned additional charge of CMD, REC Limited to Shri Ajeet Kumar Agarwal presently Director (Finance) w.e.f. 6th March 2019. Shri Agarwal, alumni of Shri Ram College of Commerce, University of Delhi, has been the Director (Finance), REC since August 1st, 2012. He is a Fellow Member of the Institute of Chartered Accountants of India with more than 35 year experience in Public Sector Undertakings. He is responsible for formulating financial strategies and plans to enable REC in achieving its vision.
Shri Ajeet Kumar looks after the Financial Management and Operations of the organization encompassing financial planning, formulation of financial policy, mobilization and management of resources. He also supervises treasury functions, lending operations, advises on corporate risk management matters and liaising with domestic & international financial institutions, investors and capital market players. During his stint as Director (Finance), REC had excelled in all its operations and surpassed all its previous targets.
About the Company: REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC and Infrastructure Finance Company (IFC) focusing on Power Sector Financing and Development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different type of projects includes Generation, Transmission, Distribution Projects and Renewable Energy projects.
Indian Bureaucracy Dot Com wishes Shri Ajeet Agarwal the very best.