Palash Srivastava: New IIFCL MD

New Delhi, Jul 5 (PTI) The government has given the additional charge of the post of India Infrastructure Finance Company Limited (IIFCL) managing director to its deputy MD Palash Srivastava.

Srivastava assumed charge following a finance ministry order dated July 2, 2025, IIFCL said in a statement on Saturday.

As DMD, Srivastava has played a pivotal role in deepening IIFCL's strategic engagements across infrastructure financing, project development, and policy advisory, it said.

His leadership has been instrumental in expanding the institution's footprint through innovative financing mechanisms, international collaborations, and strengthened regulatory dialogue, it added.

The IIFCL MD position is vacant following the completion of the tenure of PR Jaishankar in May 2025.

IIFCL is a government-owned financial institution dedicated to extending long-term financial assistance to infrastructure projects across the country. During Jaishankar's tenure, IIFCL achieved the highest net profit, the highest loan sanction and disbursement.

For the financial year ended March 2025, IIFCL reported a 39 per cent jump in net profit to a record high of Rs 2,165 crore against Rs 1,552 crore in the previous fiscal.

During the year, the company reported record performance with the highest-ever sanctions and disbursements at Rs 51,124 crore and Rs 28,501 crore, respectively.

The cumulative sanctions and disbursements stood at Rs 3.06 lakh crore and Rs 1.56 lakh crore, respectively, as of March 31, 2025.