Memorandum of Understanding was signed between IRFC and Ministry of Railways on 29th May 2017. Shri S.k. Pattanayak , MD IRFC executed the MoU on behalf of IRFC whereas Shri R.K. Verma, Secretary , Railway Board, Govt. of India executed on behalf of Ministry of Railways. MoU sets out the FY 17-18 targets for IRFC for its performance evaluation.