New Delhi: The Search cum Selection Committee (SCSC) has recommended Manoj Kumar Dubey for the position of Chairman & Managing Director of the Indian Railway Finance Corporation Ltd. (IRFC). The selection process, conducted on 9th July 2024, highlighted Dubey as the preferred candidate for this role. An Indian Railways Accounts Service (IRAS) officer of 1993 batch, Dubey is currently serving as Director (Finance) at Container Corporation of India Ltd. (CONCOR).
Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets. IRFC is a Schedule ‘A’ Public Sector Enterprise under the administrative control of the Ministry of Railways, Government of India. In more than 30 years of existence, IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay.
Dubey, a recipient of the National Award for outstanding service at the Minister of Railways level in 2011, has significantly contributed to the Indian Railways. He led several digital initiatives, including e-Tendering, e-Auction, and the payment of salaries through banks to nearly 100% of employees in the divisions he managed. His efforts in computerising bill passing, pension settlement, and provident fund systems have been instrumental in improving operational efficiency. Additionally, he has made substantial contributions to operations, incentives, and staff posting policies, achieving numerous milestones in systems improvement.
Under his leadership, CONCOR had posted a V-shaped recovery post-Covid times in FY 2022-23 with best ever revenue from operations, doubling its PAT vis-à-vis last FY to Rs. 1069 crore. He played a key role in restructuring of company from 3 tier to 2 tier command by dismantling the regional offices, bringing in sizeable savings and seamless direct monitoring of activity centres. He was instrumental in making the PSU paperless with fully automated working.
With nearly fifteen years of experience as Head of Finance in major loading divisions of Indian Railways, including Dhanbad, Asansol, and Mughalsarai, Dubey has an extensive background in train operations management and freight loading mechanisms. In his role as Director/Executive Director in the PPP Directorate and Finance Commercial Directorate at the Railway Board over the past five years, he has led numerous high-profile projects.
Dubey has also developed expertise in tariff structuring for freight and passenger trains, as well as catering and tourism contracts at a strategic level. He has drafted numerous Cabinet Notes and has significant experience in international competitive bidding for mega projects. /BI
