Rakesh Kumar Jain is GAIL director (finance)
NEW DELHI: Rakesh Kumar Jain has joined the board of state-run gas utility GAIL (India) as director (finance) at a time the company management is steering its way through gas market transition and price volatility, which requires deft financial management. An insider who rose through the ranks, Jain fits the bill as a cost and management accountant. He started his career in the company in 1992 as a management trainee and has 30 years of experience of working in almost all business verticals of GAIL, including the petrochemical plant at Pata. Before his elevation, Jain was executive director (finance & accounts), heading corporate finance and treasury operations. He played an instrumental role in large mobilisation of funds from domestic and international markets and taking investment decisions in large infrastructure projects. Jain also holds an additional position in the board of Indraprastha Gas Ltd, GAIL’s city gas venture with Bharat Petroleum and the Delhi Government. He had also served on the board of Ratnagiri Gas and Power Pvt. Ltd (RGPPL). He also did a stint with the Petroleum and Natural Gas Regulatory Board (PNGRB) as Jt. Director (commercial and finance). During his stint at PNGRB, he was engaged in the reviewing tariff regulations, conceptualization unified tariff and authorisation of two bidding rounds for city gas distribution licences.