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Board of Directors

Shri Atul Kumar Rai

CEO and Managing Director

Shri Atul Kumar Rai is the CEO & MD of IFCI since July, 2007. Before joining IFCI, Shri Rai has worked for over 20 years in various positions in the Government of India (GoI). His assignments have involved a diverse range of activities from hands-on management, to regulation, and finally to the most abstract level of formulating policy.

An Honours graduate in Economics from University of Delhi, Shri Rai also holds a postgraduate qualification in Economics from Jawahar Lal Nehru University. He started his career in Forward Markets Commission in 1987 where he worked for four years in development of forward and futures trading and setting up of new commodity exchanges. Between 1991 and 1993, Shri Rai worked on policy making in the Planning Commission. His presence in the Ministry of Industry from 1993 - 1996 coincided with the dismantling of industrial licensing regime and sweeping tax reforms, both of which happened to fall in his domain. Between 1997 and 2002, the Delhi Development Authority had him handling management in a field organisation. In 2002, he joined the Banking Division as a Director managing ownership matters of Government sponsored financial institutions. During this period, Shri Rai set up two institutions, namely, India Infrastructure Finance Company Ltd. (IIFCL), launched with much fanfare in January 2006, and SASF in 2004, a less heard of SPV which manages the bad debts of IDBI Ltd.

He continued as a Director at IIFCL in executive capacity until he joined IFCI. In the interim, he was Chairman of Dena Bank’s Board for a short and dynamic time in that Bank’s history. He was a Director for three years on the Board of Vijaya Bank, IIBI and IIFCL, with a total balance sheet size in excess of Rs.80,000 crore.

Shri Rai is currently on the Board of Directors of IFCI Venture Capital Funds Ltd., IFCI Factors Ltd., IFCI Financial Services Ltd., Tourism Finance Corporation of India Ltd., MPCON Ltd., HIMCON Ltd. and HARDICON Ltd. He is also on the Governing Board of Management Development Institute and Institute of Leadership Development.

Shri P G Muralidharan

Chairman of the Board

Shri P G Muralidharan retired as Secretary to Government of India after working in Ministries/Departments in the Central and State Governments including Finance, Commerce, Industry, Agriculture and Planning and as Chairman/Director of various Central/State public sector undertakings. He is on the Board of Directors of Religare Asset Management Company Limited.

Shri Anurag Jain

Shri Anurag Jain, Joint Secretary (IF & CVO), Department of Financial Services, Ministry of Finance, Government of India is a B.Tech (Hons.) Electrical Engg. from IIT–Kharagpur. He also holds a Master Degree in Public Administration from Maxwell School of Syracuse, USA.

He has work experience of about 26 years; 3 years in Larsen & Toubro as Commissioning Engineer and 23 years as Indian Administrative Service Officer in various fields such as, General Administration (District/Sub-Divisions), Rural Development, Health & Family Welfare, Energy, Information Technology etc. in Government Departments. In the previous assignment as Secretary, Chief Minister’s Office, coordinated activities of development departments in the State Government – Planning, Finance, PWD, Irrigation, Public Health, Engineering, Health, Education, Women & Child Development, Tribal Welfare, SC Welfare etc.

Besides IFCI Limited, Shri Anurag Jain is also on the Board of Punjab National Bank, Small Industries Development Bank of India, National Housing Bank, National Insurance Company Limited and Irrigation & Water Resources Finance Corporation Limited.

Shri Sanjeev Kumar Jindal

Shri Sanjeev Kumar Jindal, presently a Director in the Ministry of Finance, Department of Financial Services, Government of India, is the Government Nominee Director on the Board of IFCI. His academic qualifications include Masters Degree in Program on International Development Policy from the Duke University, USA and Master of Business Administration (specialization in Finance) from Punjab University, Chandigarh. He is a career Civil Servant with over 21 years of rich and varied experience of working in different Ministries/Departments of the Government of India such as Department of Economic Affairs, Department of Food & Public Distribution, Department of Personnel & Training, Ministry of Industry besides working in TRAI.

He is on the Board of Directors of DENA Bank, Irrigation & Water Resources Finance Corporation Ltd.

Smt. Usha Sangwan

Smt. Usha Sangwan, Executive Director of Life Insurance Corporation holds a Master’s Degree in Economics from Punjab University, Licentiate from Insurance Institute of India and a Post Graduate Diploma in Human Resource Management. Along with varied experience of Housing Finance, Pension & Group Superannuation and almost all aspects of core business of LIC, she has also operated at Branch, Divisional, Zonal and Corporate level. She has been exposed to various prestigious training programmes in India and abroad. Prominent among them being Marketing Strategies at ISB-Hyderabad, Transformational Leadership at IIM-Lucknow and HR as Business Strategy at Asian Institute of Management, Philippines.

Prof Omprakash Mishra

Prof Omprakash Mishra is Professor of International Relations at Jadavpur University, Kolkata. Earlier, he served as the Pro-Vice Chancellor of Indira Gandhi National Open University (IGNOU) and as Member, National Security Advisory Board, Government of India. An alumni of North Bengal University and Jawaharlal Nehru University, Prof Mishra has served as the Head of the Department of International Relations and as Founder Coordinator of Centre for Refugee Studies at Jadavpur University. He is Member Secretary, Global India Foundation, a not for profit think tank on international affairs and public policy. He serves various committees, expert group and is regularly consulted on policy and governance issues by a number of government departments, academic and research institutes in the country and abroad. He is a member of the Board of Governors of Management Development Institute, Gurgaon.

Smt. Savita Mahajan

Smt. Savita Mahajan is the Deputy Dean and Chief Executive of Indian School of Business (ISB), Mohali campus. She has been associated with the ISB since its inception in 2001.

After obtaining an undergraduate degree in Economics from Delhi University, she did her MBA from the Indian Institute of Management, Ahmedabad, in 1981. Since then, she has worked in several Indian organisations, including Maruti Udyog Limited, Bharat Technologies, Karvy Consultants, and Intergraph India, in diverse industry sectors, including automobiles, engineering, financial services and software.

Smt. Mahajan has carried out consulting and training assignments for corporations and development organisations, including GE Capital, the Planning Commission, the World Bank, and the Tibetan Government in exile of His Holiness, the Dalai Lama. She is a member of the GMAT School Advisory Group, which is responsible for providing practical insights into strategic decisions that the Graduate Management Admission Council (GMAC) makes regarding the examination.

She is widely travelled, and spent a year at the Woodrow Wilson School of Public Policy and International Affairs, at Princeton University, USA, as part of a mid career fellowship programme.