Power Finance Corporation Limited has announced a change in its Board of Directors, with Shri Rajiv Ranjan Jha set to cease his role as Director (Projects) effective May 1, 2026, due to superannuation. The company has formally communicated this development to both the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015.

Director Appointment and Tenure Details

Shri Rajiv Ranjan Jha was originally appointed as Director (Projects) at Power Finance Corporation through a Ministry of Power, Government of India order. The appointment was made under order number F.No.24-8/1/2020-PFC(MoP) dated October 28, 2021, with specific tenure conditions outlined by the ministry.

Reason for Board Change

The cessation of Shri Rajiv Ranjan Jha's directorship is attributed to him reaching the age of superannuation. According to the original appointment terms, his tenure was designed to continue from the date of assumption of charge until either his superannuation date of April 30, 2026, or until further orders from the Ministry of Power, whichever occurred first.

Regulatory Compliance

Power Finance Corporation has fulfilled its regulatory obligations by promptly notifying the stock exchanges about this board change. The notification was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer, and submitted to both exchanges for information and record purposes. This communication ensures transparency and compliance with SEBI's listing regulations regarding material changes in company leadership.

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.

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.