NEW DELHI – In a significant move to strengthen India’s infrastructure financing landscape, the Appointments Committee of the Cabinet (ACC) has appointed Shri Rohit Rishi as the Managing Director (MD) of India Infrastructure Finance Company Limited (IIFCL).
The appointment, formally cleared on January 27, 2026, saw Rishi officially take charge and cease his role as Executive Director of the Bank of Maharashtra on February 3, 2026.
Filling the Leadership Gap
Rishi’s appointment ends a leadership vacuum that had persisted since May 2025.
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Succession: He succeeds PR Jaishankar, who completed a five-year term in May 2025.
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Interim Leadership: In the intervening months, Shri Palash Srivastava (Deputy Managing Director) held the additional charge of MD.
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Tenure: Rishi will serve a three-year term or until further orders.
The Profile of a Credit Veteran
Rohit Rishi brings over 30 years of deep-rooted banking experience to IIFCL, with a career defined by large-scale credit management and digital transformation.
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Academic Foundation: B.Tech in Textiles, MBA (Finance), and CAIIB.
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The Indian Bank Years (1995–2023): Started as an Industrial Development Officer; rose to become Field General Manager (FGM) in New Delhi. He played a pivotal role in the Allahabad Bank-Indian Bank merger.
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Bank of Maharashtra (2023–2026): As Executive Director, he was credited with revitalizing the bank’s MSME and Corporate Credit portfolios and implementing advanced digital operational frameworks.
The Road Ahead: IIFCL at a Glance
As MD, Rishi takes control of a critical institution that serves as the “financial backbone” for India’s massive infrastructure push.
| Metric | Details |
| Institution Type | Wholly-owned Govt of India Enterprise (NBFC-ND-IFC) |
| Authorized Capital | ₹10,000 Crore (as of March 31, 2025) |
| Lending Portfolio | Roads, Ports, Energy, Urban Infrastructure, & Airports |
| New 2026 Mandate | Potential inclusion of EVs, Aviation, and Space in financing lists. |
Immediate Priorities
Rishi is expected to focus on:
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The $1.4 Trillion Pipeline: Aligning IIFCL’s credit flow with the National Infrastructure Pipeline (NIP).
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Takeout Financing: Helping commercial banks offload long-gestation infrastructure loans to free up their balance sheets.
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Sector Diversification: Exploring financing for “innovation-led” areas like green steel, sustainable aviation fuel, and critical minerals.
