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, official sources said.
A formal order from DFS is expected soon. 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.