Sanjay Kumar Rakesh appointed as Managing Director of CSC

Sanjay Kumar Rakesh, CEO of CSC SPV, has been appointed as the Managing Director of the company. The decision to this effect was taken at the 52nd Board Meeting of CSC held at the Ministry of Electronics & IT.

Rakesh took over as the CEO of CSC SPV (Special Purpose Vehicle) in November 2020 after taking voluntary retirement from IAS. He is a 1990 batch IAS officer of the Tripura cadre and brings around 30 years of experience in serving the Government in various capacities.

His last assignment was with the Government of Tripura as the Additional Chief Secretary. Prior to that, he was Joint Secretary in the Ministry of Electronics & IT where he led several initiatives for Make in India in the electronics sector. He has also served the Ministry of Rural Development, looking after Indira Awas Yojana and Pradhan Mantri Gram Sadak Yojana.

Rakesh is a B Tech in Electrical Engineering from IIT Kanpur and a Post-Graduate Diploma in Public Policy & Management from MDI, Gurugram.

The Board Meeting, held under the chairmanship of Secretary, IT, Alkesh Kumar Sharma, discussed important agenda like the appointment of new Managing Director and Directors and approval of Annual Financial Statement for the financial year 2021-22.

At the meeting, the Annual results were declared for FY 2021-22 for CSC. As per the results, CSC earnings for the year amounted to Rs 1804.92 crore as compared to Rs 1441.82 crore for FY 2020-21. CSC earned a net profit of Rs 141 crore during the year as compared to Rs 125 crore during FY 2020-21. CSC also announced a dividend of 6 percent for its shareholders. As of July 2022, there are 5.33 lakh active CSCs across the country, of which 74,500 are managed by women Village Level Entrepreneurs.