REC appoints Rajesh Kumar Agarwal as PFC nominee director

REC Limited has appointed Shri Rajesh Kumar Agarwal, Director (Finance) at Power Finance Corporation Limited (PFC), as PFC’s Nominee Director on its Board with effect from May 1, 2026.

The appointment was approved by the Ministry of Power, Government of India, through an Office Order dated May 6, 2026. The induction has been made under Clause 5.1 of the Share Purchase Agreement signed between the President of India and PFC on March 20, 2019.

Agarwal has more than 31 years of experience in the power and financial sectors. He holds a Bachelor of Commerce (Honours) degree and is a member of the Institute of Cost Accountants of India.

Since joining PFC in 2009, he has worked in areas including corporate accounts, taxation, fund management and banking, lending policy compliance, restructured assets management, fund raising, and loan disbursement. REC stated that he has also played a role in advancing digital reforms and improving financial reporting standards within the organisation.

Prior to joining PFC, Agarwal worked with NTPC, Nuclear Power Corporation of India Limited (NPCIL), and Delhi Transco Limited (DTL). His earlier responsibilities included tariff-related matters, power purchase agreement negotiations, and implementation of Ahluwalia Committee reforms in the power sector.