**Executive Summary**
Shri Anurag Kapil, a 1998 batch Indian Railway Accounts Service (IRAS) officer, assumed charge as Director (Finance) at NMDC Limited on Tuesday, April 2, 2026. With over 26 years of experience in financial management and public sector governance, his appointment aims to strengthen NMDC’s growth, fiscal prudence, and value creation. He brings extensive expertise from his previous roles in the Indian Railways, Ministry of Coal, and various Central Public Sector Enterprises (CPSEs).
**Key Points / Main Content**
**Professional Background and Experience**
* Shri Anurag Kapil is a 1998 batch IRAS officer with over 26 years of service across Indian Railways and CPSEs.
* He previously served as Executive Director, Finance (Expenditure) at the Railway Board, managing financial policy, planning, and project monitoring.
* He held the additional charge of Director (Finance) at CONCOR, focusing on multimodal logistics and sustainable growth.
* His career includes significant roles such as Director in the Ministry of Coal and various senior finance positions within the Indian Railways.
**Strategic Expertise and Contributions**
* Expertise spans financial oversight, strategic planning, PPP frameworks, contract management, and budgetary control.
* He has played a key role in PSU governance, including capital restructuring, disinvestment initiatives, and the formulation of national policies in the coal sector.
* He has represented India internationally on missions related to mining, clean coal technology, and energy collaborations aligned with net-zero goals.
**Board Memberships and Qualifications**
* Served as Government Nominee Director on the boards of Singareni Collieries Company Limited, Mineral Exploration Corporation Limited, and Konkan Railway Corporation Limited.
* Holds an MBA in Finance & Marketing from FMS, University of Delhi, and a Master’s in Public Affairs from the University of Minnesota, USA.
* Recipient of the National Award for Outstanding and Meritorious Service (2009) from the Ministry of Railways.
**Impact Analysis**
**NMDC Limited**
**Impact**
The organization gains a Director with extensive experience in public sector governance and financial management to lead India's largest iron ore producer.
**Action Required**
The organization must integrate Shri Kapil into its executive leadership to leverage his expertise in fiscal prudence and strategic growth.
**Shri Anurag Kapil**
**Impact**
He assumes responsibility for the financial leadership of a major CPSE, tasked with ensuring value creation and strengthening the company's growth trajectory.
**Action Required**
He must oversee financial policy formulation, expenditure management, and strategic financial initiatives for NMDC Limited.
**Ministry of Steel / Government of India**
**Impact**
The appointment ensures that a highly qualified officer with a track record in policy and disinvestment handles critical financial assignments for a key national enterprise.
**Action Required**
No specific regulatory action is mentioned; however, the Ministry will monitor the impact of his leadership on the sectoral performance of NMDC.
Key Entities Referenced
Shri Anurag Kapil: A 1998 batch Indian Railway Accounts Service (IRAS) officer who has assumed charge as Director (Finance) at NMDC Limited.
NMDC Limited: India’s largest iron ore producer and the Central Public Sector Enterprise where Shri Anurag Kapil has been appointed to lead financial operations.
Indian Railway Accounts Service (IRAS): The specialized civil service cadre to which Shri Anurag Kapil belongs, representing his professional background in financial management.
Railway Board: The statutory body where Shri Kapil previously served as Executive Director, Finance (Expenditure), responsible for financial policy and expenditure management for Indian Railways.
Ministry of Steel
Shri Anurag Kapil takes charge as Director
(Finance), NMDC
Posted On: 02 APR 2026 3:59PM by PIB Delhi
Shri Anurag Kapil, a 1998 batch officer of the Indian Railway Accounts Service (IRAS), has assumed
charge as Director (Finance) at NMDC Limited, India’s largest iron ore producer, on Tuesday.
In a career spanning over 26 years across Indian Railways and CPSUs, Shri Kapil brings a blend of
operational expertise and strategic vision in financial management and public sector governance. He has
held key positions in Indian Railways including Senior Divisional Finance Manager, FA&CAO (Traffic),
FA&CAO (Finance & General) and Deputy Chief Vigilance Officer, and has also served as Director in the
Ministry of Coal, handling critical policy and sectoral assignments.Prior to joining NMDC, he was serving as Executive Director, Finance (Expenditure) at the Railway
Board, where he was responsible for financial policy matters, expenditure management, planning, project
monitoring and productivity analysis for Indian Railways. He has also played a key role in strengthening
PSU governance, including initiatives related to capital restructuring, MoUs, disinvestment proposals and
financial approvals across Railway CPSEs.
In his years of service, Shri Kapil has demonstrated strong leadership in financial oversight, policy
formulation and strategic planning. His experience spans government accounting, project evaluation, PPP
frameworks, contract management and arbitration, supported by expertise in budgetary control, cost-
benefit analysis and program evaluation. He has contributed to formulation of key national policies in the
coal sector and has been associated with major disinvestment initiatives and establishment of regulatory
frameworks.
He has also held additional charge as Director (Finance), CONCOR, where he strengthened financial
performance and led strategic initiatives in diversification, multimodal logistics and sustainable growth.
He has represented India at various international forums and engagements, including missions on mining,
clean coal technology, disinvestment roadshows and energy collaborations, including initiatives aligned
with net zero goals.
Shri Kapil has served as Government Nominee Director on the Boards of several CPSEs including
Singareni Collieries Company Limited, Mineral Exploration Corporation Limited, Railway Energy
Management Company Limited and Konkan Railway Corporation Limited. He has undergone extensive
training in finance, PPP, strategic management and vigilance, including programs at ISB.
An alumnus of Hans Raj College, University of Delhi, he holds a degree in Chemistry (Hons), an MBA
(Finance & Marketing) from Faculty of Management Studies, University of Delhi, and a Master’s in
Public Affairs from the University of Minnesota, USA. He was conferred the National Award for
Outstanding and Meritorious Service in 2009 by the Ministry of Railways, Government of India.
His experience in finance across Indian Railways and large CPSEs will be instrumental in strengthening
NMDC’s growth while ensuring fiscal prudence and value creation.
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AG
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