Jatin Kumar Nayak Assumes Charge as Chairman & Managing Director of IREDA

Why in the News?

**Jatin Kumar Nayak** has officially taken charge as the **Chairman & Managing Director (CMD)** of the Indian Renewable Energy Development Agency (**IREDA**). His appointment was approved by the Appointments Committee of the Cabinet (**ACC**).

Key Features / Major Points:

- Career Background & Experience:

- Prior to joining IREDA, Nayak served as the **Executive Director (Finance)** at **REC Limited**.

- Served as the Chief Financial Officer (CFO) of erstwhile REC Transmission Projects Company Limited (a subsidiary of REC).

- Possesses over three decades of extensive corporate finance experience across power, mining, and metals sectors (having worked with NHPC, Hindustan Copper, NALCO, and Neelachal Ispat Nigam Ltd).

- Qualification: Holds a Master's degree in Commerce from **Utkal University** (Bhubaneswar, Odisha), is a fellow member of the Institute of Cost and Management Accountants of India (ICMAI), and a qualified Company Secretary (CS).

Static GK Facts:

- Indian Renewable Energy Development Agency (IREDA):

- Formed: **March 11, 1987** (A Navratna CPSE under the Indian government).

- Headquarters: **New Delhi**.

- Nodal Ministry: **Ministry of New and Renewable Energy (MNRE)**.

- Motto: *"Energy for Ever"*.

- Status: Upgraded to **Navratna** status in April 2024 and classified as Infrastructure Finance Company (IFC) by RBI in 2023.

- REC Limited (formerly Rural Electrification Corporation):

- Formed: **1969** (A Maharatna CPSE NBFC).

One-Liner Quiz (All Competitive Exams):

Q: Who has assumed charge as the new Chairman & Managing Director (CMD) of IREDA?

A: Jatin Kumar Nayak

Q: Under which Union Ministry does IREDA operate as a public sector enterprise?

A: Ministry of New and Renewable Energy (MNRE)

Q: In which year was the Indian Renewable Energy Development Agency (IREDA) established?

A: 1987 (March 11, 1987)

Q: Where is the headquarters of the Indian Renewable Energy Development Agency (IREDA) located?

A: New Delhi

#IREDA #JatinKumarNayak #CMD #Navratna #MNRE #RenewableEnergy #RECLimited #CurrentAffairs #StaticGK