Manoj Kumar Dubey (IRAS: 1993) has been appointed as the new Chairman & Managing Director (CMD) of Indian Railway Finance Corporation Limited (IRFC), according to an official announcement by the New Delhi establishment. Dubey, who currently serves as Director (Finance) at Container Corporation of India (CONCOR), will take over the role from Shelly Verma, who has been serving as the interim CMD for more than two years.
This appointment comes after the recommendation of a Search-cum-Selection Committee. IRFC, the financial arm of Indian Railways, has been without a permanent CMD since the post was placed under an ad-hoc arrangement following the departure of the previous officeholder.
Founded in 1986, IRFC is a key public sector undertaking with a market capitalization of INR 2.01 trillion. The corporation is responsible for raising funds from domestic and international markets to support the expansion and modernization of Indian Railways. Since its inception, IRFC has financed the acquisition of 13,349 locomotives, 73,979 passenger coaches, and 259,661 freight wagons. The corporation plays a pivotal role in augmenting Indian Railways’ annual plan outlay, drawing on a wide range of financial instruments to mobilize necessary funds.
