IFCI Ltd, a government company, is set to have a new Managing Director & CEO in E Sankara Rao, who is currently Chief General Manager at India Infrastructure Finance Company Ltd (IIFCL).
The Appointments Committee of Cabinet has given its nod for the Department of Financial Services (DFS) proposal to appoint Emandi Sankara Rao as Managing Director & Chief Executive Officer of IFCI Ltd. Rao’s appointment will be valid for three years. Rao is also currently a director and chief executive officer at IIFCL Asset Management Company Ltd.
Important Takeaways from Above News-
- Industrial Finance Corporation of India (IFCI) Limited established on 01st July 1948.
- IFCI Limited is the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector.
Source- The Hindu Business Line