India Infrastructure Finance Company Opens MD Post As FSIB Launches Recruitment Drive

IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects.

As per the public notice, the position would be for a period of three years and may be extended by up to two years based on performance.

Source : Freepik

Financial Services Institutions Bureau (FSIB) has invited applications for the post of IIFCL managing director following the completion of the tenure of P R Jaishankar last month.

Managing Director of IIFCL plays a pivotal role in providing innovative financing solutions to promote and develop world-class infrastructure in India, FSIB, the headhunter for directors of state-owned banks and financial institutions, said in a public notice.

IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

The authorised and paid-up capital of the company stood at Rs 10,000 crore and Rs 9,999.92 crore, respectively, as on March 31, 2025. IIFCL has been registered as an NBFC-ND-IFC with the Reserve Bank of India (RBI) since September 2013 and follows the applicable prudential norms of the RBI.

As per the public notice, the position would be for a period of three years and may be extended by up to two years based on performance, provided that no person would hold the office of MD, IIFCL after attaining the age of 60 years.

For All India Service officers/Central Services Group 'A' officers, extant guidelines on deputation tenure would apply, it said.

As per the eligibility criteria, the applicant should have a minimum of 25 years of experience on the date of vacancy in different verticals/domains, including 3 years of operational experience, preferably in project finance or credit appraisal or large corporate credit.

The maximum age of entry for both internal as well as other candidates would be 57 years as on July 15, 2025.

During Jaishankar's tenure, IIFCL achieved the highest net profit, the highest loan sanction and disbursement.

For the financial year ended March 2025, IIFCL reported a 39 per cent jump in net profit to a record high of Rs 2,165 crore against Rs 1,552 crore in the previous fiscal.

During the year, the company posted record performance with the highest-ever sanctions and disbursements at Rs 51,124 crore and Rs 28,501 crore, respectively.

The cumulative sanctions and disbursements stood at Rs 3.06 lakh crore and Rs 1.56 lakh crore, respectively, as of March 31, 2025.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)