Railway Board Appoints Rajesh Naik as Director (Projects) at IRCON
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New Delhi, March 3, 2026: The Railway Board has conveyed the sanction of the President of India for the appointment of Shri Rajesh Naik as Director (Projects) at IRCON International Limited.
Tenure & Review
Shri Rajesh Naik’s appointment is effective from February 13, 2026 (FN) and will continue until May 31, 2030 (date of superannuation) or until further orders, whichever is earlier. The appointment is subject to the provisions of the Companies Act, 2013.
After completion of the first year, his performance will be reviewed by the Government for continuation for the remaining tenure. Either side may terminate the appointment with a three-month notice or salary in lieu thereof.
Pay & Allowances
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Basic Pay: ₹1,80,000 per month in the scale of ₹1,80,000–3,40,000 (2017 IDA pay scale as per DPE guidelines).
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Dearness Allowance (DA): As per the new IDA scheme.
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Annual Increment: 3% of basic pay annually, with provisions for stagnation increments subject to performance rating of “Good” or above.
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HRA & Perks: As per DPE Office Memorandums dated 03.08.2017 and 04.08.2017. Total allowances and perks capped at 35% of basic pay.
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PRP & Superannuation Benefits: As per approved Government norms.
Residential & Conveyance Facilities
He will be entitled to company accommodation (own/leased/self-lease) at headquarters in New Delhi, with rent recovery as per DPE norms.
For official and limited private use, he will be eligible for a staff car facility, with defined monthly kilometer ceilings and a fixed recovery amount for non-duty use.
Conduct & Post-Retirement Clause
The Conduct, Discipline and Appeal Rules applicable to below Board-level executives will apply, with the President of India as the Disciplinary Authority.
Post-retirement, he will be restricted from joining private commercial undertakings having business relations with IRCON for one year without prior Government approval.
The order has been issued with the concurrence of the Finance Directorate, Ministry of Railways.