Rajesh Kumar takes charge as Director (Finance) of REC Limited
Rajesh Kumar on Thursday formally assumed charge as the Director (Finance) of REC Limited, a premier Non-Banking Financial Company (NBFC) under the Ministry of Power. The appointment, approved by the Appointments Committee of the Cabinet (ACC) on March 25, marks a significant leadership transition for the corporation as it spearheads India’s ambitious energy transition and infrastructure development.
Kumar, an alumnus of the prestigious Shri Ram College of Commerce (SRCC), brings more than three decades of exhaustive experience in the public sector, specifically within the power and infrastructure financing domains. A dual-qualified professional — holding both Chartered Accountant (CA) and Cost & Management Accountant (CMA) credentials — his expertise spans accounts, taxation, treasury, project appraisals, and regulatory compliance.
Prior to his elevation to the Board, Kumar served as the Executive Director (Finance) at REC Limited. His career trajectory is defined by two decades of service at REC Limited, where he deepened his expertise in power sector financing and resource mobilisation, alongside a decade-long stint with a CPSE specialising in engineering and project consultancy. Furthermore, he has demonstrated versatile leadership as the Chief Executive Officer of REC Power Development and Consultancy Limited (RECPDCL).
During his tenure at REC, Kumar has been credited with transforming the organisation’s domestic resource mobilisation strategy through the introduction of sophisticated financial instruments. He was instrumental in launching Tax-Efficient Hybrid Bonds and AAA-rated Perpetual Bonds, alongside CBDT-notified Zero Coupon Bonds and Capital Gain Bonds, which significantly expanded the investor base and reduced borrowing costs.
Beyond resource mobilisation, Kumar has provided strategic oversight for multilateral funding, Environmental, Social, and Governance (ESG) projects, and the corporation’s digital transformation. His interventions in complex tax matters have reportedly resulted in substantial savings for the corporation, while his knack for innovation led to the initiation of new business policies that have bolstered the company’s financial standing.
Kumar’s appointment comes at a crucial juncture as REC undergoes restructuring aimed at achieving greater scale and efficiency within public sector NBFCs. As a former Board Member of various DISCOMs and transmission companies, his governance experience is expected to be vital in navigating the current phase of consolidation. Officials noted that as the corporation continues to lead the financing of India’s energy transition, Kumar’s profound expertise in strategic investments will be central to achieving long-term financial goals.
