Power Finance: Company Names Rajesh Kumar Agarwal As New CFO

Power Finance Corporation Limited has announced key leadership appointments to strengthen its financial management structure. The government undertaking has appointed Shri Rajesh Kumar Agarwal to dual roles within the organization's senior management.

Board Appointment Details

The Board of Directors, in its meeting held on April 30, 2026, formally appointed Shri Rajesh Kumar Agarwal as Director (Finance) on the Board of Power Finance Corporation Limited. The appointment carries an effective date of April 23, 2026, when he initially assumed charge of his responsibilities.

Position Details:	Information
Appointee:	Shri Rajesh Kumar Agarwal
Board Position:	Director (Finance)
Additional Role:	Chief Financial Officer (CFO)
Effective Date:	April 23, 2026
Board Meeting Date:	April 30, 2026

Government Authorization

The appointment follows official authorization from the Ministry of Power, Government of India, through order F.No.24-8/1/2023-PFC MoP-(part-1) dated April 23, 2026. This ministerial order provided the framework for Agarwal's assumption of charge as Director (Finance) on the company's Board.

Dual Leadership Role

In addition to his Board position, Shri Rajesh Kumar Agarwal has been appointed as Chief Financial Officer (CFO) of Power Finance Corporation Limited, also effective from April 23, 2026. This dual appointment consolidates financial leadership responsibilities within the organization.

Corporate Communication

The appointment was communicated to both the National Stock Exchange of India Limited and BSE Limited through official correspondence dated April 30, 2026. The communication was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer, ensuring proper regulatory disclosure of the leadership changes.

This appointment represents a significant development in Power Finance Corporation's executive structure, bringing new leadership to the company's financial operations and Board governance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.52%	-4.66%	+13.23%	+9.69%	+8.44%	+423.10%

Power Finance Corporation Limited has notified stock exchanges regarding the cessation of three Non-Official Independent Directors upon completion of their tenure. The company filed the intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, on April 17, 2026.

Director Cessation Details

All three independent directors completed their one-year tenure and ceased to be directors on the Board of Power Finance Corporation Limited effective April 17, 2026.

Director Name	Appointment Date	Cessation Date	Tenure Period
Smt. Usha Sajeev Nair	April 17, 2025	April 17, 2026	One year
Shri Prasanna Tantri	April 17, 2025	April 17, 2026	One year
Shri Naresh Dhanrajbhai Kella	April 17, 2025	April 17, 2026	One year

Appointment Background

All three directors were appointed through the same Ministry of Power, Government of India order. The appointment details are as follows:

Parameter	Details
Appointing Authority	Ministry of Power, Government of India
Order Number	F.No.46/2/2010-RE(Vol.III)(part-4)(part-1)
Order Date	April 17, 2025
Position	Non-Official Independent Director
Tenure Duration	One year

Regulatory Compliance

The cessation was communicated to both major stock exchanges where the company's shares are listed:

National Stock Exchange of India Limited - Listing Department, Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051
BSE Limited - Department of Corporate Services, Floor 25, PJ Towers, Dalal Street, Mumbai - 400 001

The notification was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer, ensuring proper regulatory compliance with disclosure requirements. The company emphasized that the cessation was due to natural completion of tenure rather than any other circumstances, maintaining transparency in corporate governance practices.