| He will replace P V Ramesh who was appointed as the Director General of the National Archives of India earlier this month. Agarwal has been the Director-Finance of the company since August 2012. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) with 35-years of experience in Public Sector Undertakings. He is responsible for formulating financial strategies at REC. “He looks after financial management and operations of the organization including financial planning, formulation of financial policy, mobilization and management of resources,” the company said in a statement. Agarwal supervises treasury functions and lending operations and advises on corporate risk management matters and liaising with domestic and international financial institutions, investors and capital market players.REC is a Navratna Non-Banking Finance Company (NBFC) and Infrastructure Finance Company (IFC) with focus on power sector financing and development. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers and private sector utilities.The company’s business activities involve financing projects in the domains of generation, transmission, distribution and renewable energy. |