Solar2010

Mr. Hari Das Kunteta is the Director (Finance & Accounts) of Rural Electrification Corporation Ltd., since May, 2004. Rural Electrification Corporation (A Navratna Public Sector Company) being developmental Financial Institution is promoting and financing projects aimed at integrated system improvement, power generation, transmission and distribution to State Sector, Joint Sector and Private Sector.

Since joining the company, Mr. Khunteta provided sustained leadership to REC operations which had resulted in significant growth in profitability, loan portfolio, disbursements, net interest margin, raising of resources from Domestic/International market at competitive interest rate resulted in reduction in cost of borrowing, reduction of non-performing assets to 0.13%. The REC IPO was launched successfully in February, 2008 even in adverse market condition and it was over-subscribed by 27 times. The REC subsequent FPO of Rs. 3530 crores also launched successfully in February, 2010. Mr. Khunteta before taking charge of Director (Finance & Accounts) of REC, he was Executive Director (Finance) in NHPC Ltd., and also on the Board of subsidiary company, Narmada Hydro Development Corporation Ltd., as Director. Mr. Khunteta also served in various capacities in Hindalco, Aditya Birla Nuvo Ltd. - Unit Jaya Shree Textiles, IBP and BHEL. Mr. Khunteta is an Chartered Accountant and Member of Institute of Chartered Accountants of India, New Delhi since 1976 and have 34 years of professional experience in area of Financial Management including resources mobilization from Domestic and International market, corporate governance, fixation of power tariff, contact management etc.