. 14/10/2024 5:13 PM
The Indian Railway Finance Corporation (IRFC) has welcomed Manoj Kumar Dubey, a seasoned financial expert and 1993-batch officer of the Indian Railway Accounts Service, as its new Chairman and Managing Director (CMD) and Chief Executive Officer (CEO). His appointment comes at a time when IRFC is positioned as a key player in supporting India's rapidly expanding railway infrastructure, aligned with the government's vision of a self-reliant and progressive nation.
Manoj Kumar Dubey brings with him a wealth of experience, having held notable roles across Indian Railways and public sector undertakings. His prior position as Director (Finance) and Chief Financial Officer at the Container Corporation of India (CONCOR) underscored his expertise in financial management and strategic decision-making. At CONCOR, Dubey played a pivotal role in managing finances for a company central to India's logistics and containerized cargo movement.
Manoj Kumar Dubey steps into his new role with a clear vision—aligning IRFC’s future growth with India’s long-term strategic goals. Expressing his pride at leading the organization during a critical phase, Dubey emphasized his commitment to contributing to the country’s economic advancement. In line with Prime Minister Narendra Modi’s “Viksit Bharat 2047” vision, Dubey aims to accelerate IRFC’s role in financing key infrastructure projects that will drive India towards becoming a developed nation by 2047.
The Indian railway sector, under the leadership of Prime Minister Modi and Railway Minister Ashwini Vaishnaw, has witnessed unprecedented growth. Dubey recognized the rapid progress in railway infrastructure, citing the successful launch of the Vande Bharat Express and the expansion of freight services. Over the past decade, the construction of 14,985 km of new railway tracks has surpassed benchmarks set by developed nations like France, effectively doubling India's total track length from 14,000 km in 2004–2014 to over 31,000 km. Dubey is keen on supporting this growth by leveraging IRFC's robust financial capabilities.
IRFC, established in 1986, plays a critical role in mobilizing funds from domestic and international markets to meet Indian Railways’ Extra Budgetary Resources (EBR). With a net worth of ₹50,755 crore and the trust of over 51 lakh shareholders, IRFC’s market capitalization exceeds ₹2 lakh crore, making it one of India’s most financially stable public sector enterprises. Manoj Kumar Dubey is determined to maintain IRFC’s leadership in the financial sector by expanding its lending portfolio and exploring co-lending opportunities with infrastructure finance companies.
In his tenure as CMD and CEO, Dubey plans to enhance IRFC’s engagement with strategic government initiatives such as the PM Gati Shakti programme, which focuses on integrated infrastructure development. He also aims to align IRFC’s operations with the broader objectives of Aatmanirbhar Bharat (Self-Reliant India), ensuring that IRFC plays an active role in financing the railways’ transition into a future-ready, technology-driven sector.
Key Initiatives Include:
Strengthening IRFC’s Growth Trajectory: Expanding the company's role in financing critical infrastructure projects, especially in the railway sector.
Exploring Co-lending Opportunities: Collaborating with infrastructure finance companies to broaden IRFC’s reach and support high-impact projects.
Supporting the PM Gati Shakti Programme: Ensuring IRFC plays a central role in the holistic and accelerated development of India’s infrastructure.
Manoj Kumar Dubey’s academic and professional credentials further strengthen his leadership position. An alumnus of Hindu College, University of Delhi, Dubey holds an MBA from IIT-ISM Dhanbad, where he earned a Silver Medal for academic excellence. Over his illustrious career, Dubey has been recognized for spearheading several digital initiatives within the Indian Railways, including e-tendering, e-auction systems, and the digitization of salary and pension processes. These initiatives earned him the National Award for Outstanding Service from the Ministry of Railways in 2011.
Throughout his career, Dubey has demonstrated a deep understanding of public-private partnerships (PPPs), having led high-profile projects such as the establishment of locomotive factories in collaboration with international partners. His experience in international bidding, tariff structuring, and managing mega infrastructure projects has established him as a prominent figure in the infrastructure sector.
