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.