New Delhi : The Railway Board has officially issued the terms and conditions governing the appointment of Shri Rajneesh Narain as Director (Finance) of the Indian Railway Catering and Tourism Corporation (IRCTC). The appointment has been made through Order No. 2023/E(O)II/40/22, with effect from June 15, 2026.
The formal order outlines the tenure, salary structure, service conditions, and other benefits applicable to the newly appointed Board-level executive of the Navratna Central Public Sector Enterprise (CPSE).
Tenure of Appointment
According to the Railway Board’s order, Rajneesh Narain will serve as Director (Finance) from June 15, 2026 (Forenoon) until June 30, 2030, which is the date of his superannuation, or until further orders, whichever is earlier.
His appointment is subject to the standard service conditions applicable to Board-level executives in Central Public Sector Enterprises.
Salary and Pay Scale
As per the appointment order, Rajneesh Narain will receive a basic monthly salary of ₹2,12,580 in the Industrial Dearness Allowance (IDA) pay scale of ₹1,80,000–₹3,40,000.
His official headquarters will be located in New Delhi, where IRCTC’s corporate office is based.
Performance Review and Service Conditions
The Railway Board has specified that the performance of the newly appointed Director (Finance) will undergo a formal review after the completion of the first year of service.
The appointment order also states that either the Government or the executive may terminate the appointment by giving three months’ notice or by paying three months’ salary in lieu of notice, in accordance with the prescribed terms of employment.
Comprehensive Executive Benefits
In addition to the basic pay, Rajneesh Narain will be entitled to all standard benefits applicable to Board-level executives in CPSEs, in accordance with the guidelines issued by the Department of Public Enterprises (DPE).
These benefits include:
- Dearness Allowance (DA)
- House Rent Allowance (HRA)
- Conveyance and transportation facilities
- Leave benefits
- Performance Related Pay (PRP)
- Superannuation and retirement benefits
- Other admissible allowances and perquisites as per applicable government norms.
Official Communication
The appointment order has been formally communicated to the Chairman and Managing Director of IRCTC for necessary implementation.
Copies of the order have also been forwarded to key government institutions, including:
- Public Enterprises Selection Board (PESB)
- Department of Personnel and Training (DoPT)
- Cabinet Secretariat
- Other concerned authorities for information and record.
Strengthening Financial Leadership at IRCTC
The appointment of Rajneesh Narain as Director (Finance) comes at an important time for IRCTC, which continues to expand its operations across railway catering, online ticketing, tourism, and hospitality services.
As the head of the finance function, he will play a crucial role in overseeing the corporation’s financial strategy, budget management, capital allocation, regulatory compliance, risk management, and long-term financial planning, while supporting IRCTC’s continued growth and operational excellence.
With the Railway Board formally issuing the appointment terms, Rajneesh Narain officially assumes responsibility as one of the key members of IRCTC’s Board, contributing to the company’s financial governance and strategic decision-making through June 2030, subject to government directives.
