IRFC Secures ‘Excellent’ Rating from DPE for 5th Consecutive Year

Current Context: On 4 January 2026, the Indian Railway Finance Corporation (IRFC), a Navratna CPSE under the Ministry of Railways, announced it has been rated “Excellent” by the Department of Public Enterprises (DPE) for FY 2024–25.

• This marks the fifth consecutive year of securing the highest performance grade since its stock market listing in 2021.
• The rating is based on MoU parameters that evaluate governance, operational efficiency, financial discipline, and strategic execution.
• IRFC has already achieved its annual sanction guidance of ₹60,000 crore for FY 2025–26 by Q3 (Dec 2025).
• It is diversifying beyond rolling stock financing into power, logistics, warehousing, metro rail, and port connectivity projects.
• This phase, termed “IRFC 2.0”, reflects its focus on institutional robustness and expanded mandate.

Question:

Q.1 Which organisation rated Indian Railway Finance Corporation (IRFC) as “Excellent” for its performance in FY 2024–25?
a) Department of Public Enterprises (DPE)
b) Ministry of Finance
c) NITI Aayog
d) Comptroller and Auditor General (CAG)

Answer: a) The Department of Public Enterprises (DPE) evaluates Central Public Sector Enterprises (CPSEs) annually based on MoU performance and awarded IRFC the “Excellent” rating.