IFCI Limited Re-Appoints Jagdish Garwal as Chief Risk Officer

New Delhi, February 28, 2026: IFCI Limited, a Government of India undertaking, has re-appointed Shri Jagdish Garwal as Chief Risk Officer (CRO) of the company for a period of one year.

The disclosure was made to both the National Stock Exchange of India Limited and BSE Limited under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tenure Details

As per the filing, Shri Jagdish Garwal’s current tenure was set to end on February 28, 2026. In line with the RBI (NBFC-Governance) Directions dated November 28, 2025, he has been re-appointed for a further one-year term effective March 1, 2026, till February 28, 2027.

Also Read: Finance Ministry Appoints NABARD CGM Manikumar Sivaramakrishnan as IFCI Deputy MD for 3-Year Term

Professional Background

Shri Jagdish Garwal, who currently serves as General Manager at IFCI Ltd, holds a B.E. (Computer Engineering), MBA, and LLB degree. He is also a Certified Associate of the Indian Institute of Bankers (CAIIB).

With around 32 years of experience at IFCI and its subsidiary, he has worked across key departments including:

• Information Technology (IT)

• Sugar Development Fund

• Vigilance

• Recovery

• Internal Audit

He has been serving as the Chief Risk Officer of the company for the past two years.

Regulatory Compliance

The re-appointment aligns with regulatory requirements under SEBI LODR Regulations and the RBI’s NBFC-Governance framework, reinforcing IFCI’s focus on strong risk management and corporate governance practices.

The company stated that the intimation has been submitted for information and record of the stock exchanges.