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GoI Appoints Rahul Bhave as MD & CEO of IFCI for a Three-Year Term.

Appointment | Dated: 25 Mar 2025

In March 2025, Rahul Bhave was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of IFCI Limited for a term of three years. He succeeds Manoj Mittal, who served as MD & CEO from June 2021 to July 2024.

🎯 Key Highlights:

  • - The appointment was approved by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi.
  • - Rahul Bhave brings over 25 years of experience in commercial banking, having held various senior roles across India.
  • - Prior to this role, he was the Deputy Managing Director (DMD) of IFCI from November 2023 and served as Executive Director (ED) at the National Housing Bank (NHB) from August 2020 to November 2023.

💡 Other Important Facts:

  • (i) Rahul Bhave serves on the boards of several institutions, including IFCI Ltd. and Stock Holding Corporation of India Ltd., and is the Chairman of the IFCI Social Foundation's Board of Trustees.
  • (ii) IFCI Limited, a Systemically Important Non-Deposit taking Non-Banking Finance Company (NBFC-ND-SI), supports industrial and infrastructure development and provides advisory services. It also manages various Production Linked Incentive (PLI) schemes under the "Atmanirbhar Bharat" initiative.
  • (iii) Additionally, IFCI promotes entrepreneurship among Scheduled Castes through the "Credit Enhancement Guarantee Scheme" and is consolidating with StockHolding Corporation of India Ltd. and other group companies, as approved by the Ministry of Finance in November 2024.

📚 Test Your Knowledge:

Recently, who was appointed as the MD & CEO of IFCI for a three-year term?

Correct Answer: Rahul Bhave

🚀 Quick Recap:

About IFCI Limited

  • MD & CEO : Rahul Bhave
  • Headquarters : New Delhi