PESB Speeds Up PFC CMD Selection; Applications Open with Tight Timeline

Psu Connect; New Delhi; On-site; INR 2,232,000 - 4,129,000; Full time

Job summary

Public Enterprises Selection Board (PESB) invites applications for the post of Chairman and Managing Director of the Power Finance Corporation, a key Maharatna CPSE. The selected candidate will join on a five-year term, or until superannuation, whichever is earlier, with an IDA pay scale of ₹2,00,000–₹3,70,000.

Age minimum 45 and with specified residual service; engineering graduate or equivalent, with 5+ years of relevant experience in finance, business development or project management.

Qualifications

• Engineering graduate, CA, Cost Accountant, or MBA/PGDM from a leading institute.

Responsibilities

• Board-level CMD role to lead Power Finance Corporation and drive strategic initiatives.
• Oversee finance, business development, operations and project management functions within a large organisation.
• Qualifications and experience expected to align with central government CPSE rules and board-level requirements.

Education

Engineering graduate

CA

Cost Accountant

MBA/PGDM

Job description

New Delhi: The Public Enterprises Selection Board has moved quickly on the leadership succession at Power Finance Corporation. On 9 October 2026, PESB issued Advertisement No. 109/2026 for the post of Chairman and Managing Director of the Schedule ‘A’ Maharatna CPSE, nearly seven months before the vacancy arises on 1 May 2027.

The application window is short and firm. Candidates must submit their online applications on the PESB website by 3:00 PM on 30 October 2026. Nodal officers and competent authorities have until 5:00 PM on 9 November 2026 to forward the applications. No physical or email applications will be accepted, and incomplete submissions will be rejected.

The selected CMD will draw the IDA scale of ₹2,00,000–3,70,000 and hold the post for five years from the date of joining, or until superannuation, or until further orders, whichever is earlier.

Minimum age 45 years with residual service of two years (internal candidates) or three years (others) as on the date of vacancy.

Must be serving in a regular capacity in a CPSE, Central Government Group ‘A’ (including Armed Forces and All India Services), Public Sector Bank/Financial Institution, SPSE with average annual turnover of ₹10,000 crore or more, or a private company/JV/Federation meeting the same turnover criterion.

Qualification: Engineering graduate, CA, Cost Accountant, or Post-graduate/Graduate with MBA/PGDM from a leading institute.

Experience: At least five years in the last ten years in Finance, Business Development, Production, Operations, Marketing or Project Management in a large organisation of repute. Preference for Power Sector or Infrastructure Finance experience.

Pay-scale eligibility and board-level position requirements as specified in the detailed advertisement.

Central Government officers will be considered only on immediate absorption basis. Private-sector applicants must attach three years’ annual reports, proof of listing (if applicable), board-level evidence and self-attested documents.

The Board reserves the right to shortlist candidates for interview as per extant guidelines. All communications are to be addressed to the Secretary, Public Enterprises Selection Board, Public Enterprises Bhawan, Block No. 14, CGO Complex, Lodhi Road, New Delhi-110003.

Applicants are required to give an undertaking that they will join if selected. Failure to join after interview or after offer of appointment attracts a two-year debarment from other CPSE board-level posts.

The full job description and online application link are available exclusively on the PESB website: https://pesb.gov.in/

This early and time-bound notification signals PESB’s intent to complete the selection process well before the vacancy materialises, ensuring continuity at the helm of one of India’s key power-sector financiers.

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