Gurgaon, 23 April 2025: Shri Jitendra Srivastava, IAS, has assumed charge as Chairman & Managing Director (CMD) of REC Limited on 22nd April 2025.
On 18th April 2025, the Appointments Committee of the Cabinet (ACC) appointed Shri Srivastava, who is an IAS from Bihar Cadre (2000 Batch), as the CMD of REC. This appointment has been made in the rank and pay of Additional Secretary to the Government of India, under the Ministry of Power.
Shri Srivastava is a seasoned civil servant with over two decades of distinguished service. Over the years, he has held several key administrative and leadership roles across the Government of India and the Government of Bihar.
Shri Srivastava has served as Joint Secretary in the Department of Drinking Water & Sanitation, Ministry of Jal Shakti from January 2023 onwards. Earlier, he served as Secretary to Govt. of Bihar in Home Department and Public Health Engineering Department (PHED).
His postings have included important assignments in sectors such as finance, power sector, education, public health, and infrastructure. His deep understanding of grassroots governance, combined with his experience at the central level, makes him well-equipped to steer REC’s strategic objectives and support India’s growing power and energy needs.
He holds a B.A. (Hons) in Economics from Delhi University’s Hansraj College and MBA (Finance) from Cochin University of Science and Technology.
About REC LIMITED
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The Loan Book of REC stands at ₹5.65 lakh crore, Market capitalization at ₹1,31,844 crore and Net Worth at ₹76,502 crores as on 31 Dec 2024.
