Board of Directors


Shri. Sanjeev Kaushik
Chairman and Managing Director (Additional Charge) and Deputy Managing Director 
Mr. Sanjeev Kaushik is an IAS officer of the Kerala cadre on deputation to the Ministry of Finance, New Delhi at the rank of Joint Secretary to Govt of India. He is currently posted as a Whole-Time Director of two term lending national Financial Institutions (NBFCs):- as CEO of Industrial Finance Company (IFCI) and as Deputy Managing Director of India Infrastructure Finance Company (IIFCL). In this capacity, he is also Chairman of the Stockholding Corporation of India, Tourism Finance Corporation, IFCI Venture Capital Company, and Governor of Management Development Institute Gurgaon
An MBA in Finance from London Business School, Mr Kaushik has had distinguished experience of 25-years spanning senior policy/regulatory and Board level positions in the Financial sector. Apart from the Ministry of Finance and public financial institutions, he has also spent more than a decade heading capital markets functions of global investment banks on sabbatical from the IAS.
Prior to his current assignment, Mr Kaushik was handling Capital Markets in the Department of Economic Affairs (DEA), where he was responsible for Policy matters relating to current account management, foreign institutional investment, external commercial borrowings, foreign exchange management. He worked closely with SEBI and RBI on regulatory committees for FIIs/FPIs, HLCECB, Depository Receipts, International Financial Centre etc.

In the private sector, Mr Kaushik was a Managing Director of HSBC Securities in Mumbai, and a Managing Director of Lehman Brothers in Mumbai. He has also worked as a senior research analyst for Europe at Bank of America Securities in London, and as a Corporate Finance Manager at ING Barings in London which he joined after completing his MBA at LBS.


Shri Pankaj Jain
Joint Secretary (IF) ,Deptt. of Financial Services,
Ministry of Finance

Shri Pankaj Jain has been appointed by the Central Government as Government Nominee Director of the Board of IIFCL w.e.f 1st January 2016 until further orders.
Pankaj Jain is an IAS officer of the 1990 batch, currently the Joint Secretary, Department of Financial Services, Ministry of Finance, Government of India. He is an alumnus of Shri Ram College of Commerce from where he has a Bachelor’s degree in Commerce followed by an MBA from FMS Delhi. He also has a professional qualification in the discipline of accounting as an Associate of the Institute of Cost Accountants of India. He has worked for the Governments of Assam and Meghalaya. This encompasses being District Magistrate at Shillong and Tura along with assignments in the Secretariat and State Corporations dealing with Power, Planning, Information Technology, Livelihood Promotion and Industries as well as being Director with the Government of India in the Ministry of Micro, Small and Medium Enterprises. His work experience also includes a three year stint with the British International Aid Agency - the Department for International Development (DFID) as Governance Adviser and Senior Program Manager. His areas of interest include Intellectual Property Rights where he has collaborated with UNIDO to develop an IPR guide for the Indian Toy Industry. He has also been a consultant to the Commonwealth Secretariat and the Asian Productivity Organisation on adoption of IT by small and medium enterprises in India and Bangladesh.
Ms. Sharmila Chavaly
Joint Secretary (Infrastructure & Investment Division) ,Department of Economic Affairs
Government of India

Ms. Sharmila Chavaly has been appointed as Government Nominee Director on the Board of Directors of India Infrastructure Finance Company Limited (IIFCL) w.e.f 22nd October 2012 by Department of Financial Services, Ministry of Finance, Govt. of India.

Ms. Chavaly, is an officer of Indian Railway Accounts Service (IRAS) (1986 Batch) and has been appointed as Joint Secretary, Department of Economic Affairs. Prior to the present assignment she held the post of Executive Director (Railway Board). She also earlier held the position of Director (ADB) with Dept. of Economic Affairs, Ministry of Finance. 

Shri. Praveen Mahto
Shri Praveen Mahto is an officer from the 1992 batch of the Indian Economic Service. He has a post graduate degree in Economics. Mr. Mahto is presently holding the position of Adviser (PAMD/PPPAU) in the NITI Aayog.  Prior to this assignment, he held the positions of Director in the erstwhile Planning Commission and the Office of Development Commissioner (Micro, Small and Medium Enterprises).
Shri. Rajeev Rishi
Scheduled Commercial Bank Nominee Director
Shri Rajeev Rishi joined as Chairman and Managing Director of Central Bank of India with effect from 01.08.2013.  Prior to this assignment, he was Executive Director in Indian Bank which responsibility he was heading since October 2010. 
Shri Rishi also served as Director of Indbank Merchant Banking Services Ltd., Indfund Management Ltd and Ind Bank Housing Ltd.
Shri Rajeev Rishi started his banking career with Oriental Bank of Commerce as Probationary Officer on 12th May, 1979.  He served for over three decades in Oriental Bank in various positions and geographies.
Shri Rishi is associated with various financial institutions in different capacities and currently holding following positions :
-      Chairman of Standing Committee on HR  of Indian Banks Association
-      Chairman of Negotiating Committee of IBA for Wage Revision of Bank Employees
-      Member on the Governing Board of I B P S
-      Member on the Governing Board of NIBM
-      Director, Indo Zambia Bank Ltd, Lusaka, Zambia
-      Director, Indian Institute of Banking & Finance
Shri Rishi has been a University Rank Holder, national Merit Scholar and is a law graduate from Punjab University, Chandigarh.
He is a sport enthusiast and represented his College in Table Tennis and Chandigarh in National Roller Skating meet
 Shri. Sunil Mehta
Scheduled Commercial Bank Nominee Director
Sh. Sunil Mehta assumed the charge as Managing Director & CEO of Punjab National Bank on May 5, 2017.
Prior to joining Punjab National Bank, he was Executive Director for a year and a half in Corporation Bank and made strategic initiatives to augment Bank's performance in CASA deposits, quality Credit, Branch, ATM Network & Alternative Delivery Channels, Customer Acquisition especially the next-gen customers and asset quality.
In a career spanning over 35 years, he has worked in various capacities in field i.e. Branches & Zones as well as administrative offices and acquired diversified experience in various facets of banking e.g. Planning, Budgeting, Resource Mobilization & Credit. He started his banking career in May 1982 as an Agriculture Field Officer of Allahabad Bank and rose to the post of General Manager in the Bank in the year 2012.
He was a member of the Govt. of India delegation to Israel in the year 2000 for study of Developmental Model of Hitech Agriculture for exploring its implementation in India. He worked as a key member of core management team in both the Banks for strategic decision making with respect to planning, organization structures & implementation.
Sh. Sunil Mehta holds dual Master’s Degree, one in Agriculture and other in Business Administration. He also holds CAIIB from Indian Institute of Bankers, Mumbai. He has attended Management Development Programme at IIM, Kolkata, Seminar on Economic Challenges being faced by developing Economics organized by “Yes Bank” at Istanbul, Turkey and CAFRAL advanced bank management programme at Washington, USA.
Sh. Sunil Mehta is an energetic leader known for his ability to envision and create successful outcomes in challenging situations. Sh. Mehta possesses excellent communication skills and has successfully established sustainable & profitable relations with all the stakeholders of the Organisations he served.