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{{#seo:
{{#seo:
| title=CMA Rakesh Bhalla – Finance Professional and Business Executive
| title=CMA Rakesh Bhalla – Finance Professional, Independent Director and Business Executive
| title_mode=append
| title_mode=append
| keywords=CMA Rakesh Bhalla, Rakesh Bhalla, CMA Rakesh Bhalla Finance Professional, CMA Rakesh Bhalla SML Isuzu, CMA Rakesh Bhalla CFO, CMA Rakesh Bhalla ICMAI, CMA Rakesh Bhalla ASSOCHAM, CMA Rakesh Bhalla RBAC Advisory Consortium, CMA Rakesh Bhalla Chandigarh, CMA Rakesh Bhalla Independent Director, CMA Rakesh Bhalla Rail Vikas Nigam Limited, CMA Rakesh Bhalla RVNL
| keywords=CMA Rakesh Bhalla, Rakesh Bhalla, CMA Rakesh Bhalla Finance Professional, CMA Rakesh Bhalla SML Isuzu, CMA Rakesh Bhalla CFO, CMA Rakesh Bhalla ICMAI, CMA Rakesh Bhalla ASSOCHAM, CMA Rakesh Bhalla RBAC Advisory Consortium, CMA Rakesh Bhalla Chandigarh, CMA Rakesh Bhalla Independent Director, CMA Rakesh Bhalla Rail Vikas Nigam Limited, CMA Rakesh Bhalla RVNL, CMA Rakesh Bhalla BJP Professional Cell, CMA Rakesh Bhalla Chairman ASSOCHAM Chandigarh, CMA Rakesh Bhalla BRICS Summit, CMA Rakesh Bhalla Rio Brazil, CMA Rakesh Bhalla Awards
| description=CMA Rakesh Bhalla is a finance professional, Fellow Member of the Institute of Cost Accountants of India and former CFO of SML Isuzu Ltd., with over 36 years of industry experience in finance, taxation, internal audit, IT, procurement and corporate leadership.
| description=CMA Rakesh Bhalla is a finance professional, Fellow Member of the Institute of Cost Accountants of India, former CFO and Procurement Head of SML Isuzu Ltd., Independent Director at Rail Vikas Nigam Limited, Chairman of ASSOCHAM Chandigarh, and State Convenor of the BJP Professional Cell Chandigarh.
| image=CMA_Rakesh_Bhalla_Winsaa_Profile.jpeg
| image=CMA_Rakesh_Bhalla_Winsaa_Profile.jpeg
| image_alt=CMA Rakesh Bhalla profile image
| image_alt=CMA Rakesh Bhalla profile image
}}
}}
{{FeaturedSnippet
{{FeaturedSnippet
| snippet1=CMA Rakesh Bhalla is a finance professional and Fellow Member of the Institute of Cost Accountants of India with over 36 years of industry experience in finance and corporate leadership.
| snippet1=CMA Rakesh Bhalla is a finance professional, Fellow Member of ICMAI, Independent Director at Rail Vikas Nigam Limited, Chairman of ASSOCHAM Chandigarh and Managing Director & CEO of RBAC Advisory Consortium Pvt Ltd.
| snippet2=Who is CMA Rakesh Bhalla? CMA Rakesh Bhalla is a former CFO and Chief Risk Officer of SML Isuzu Ltd., Independent Director at Rail Vikas Nigam Limited, and founder of RBAC Advisory Consortium with expertise in finance, taxation, IT, procurement and strategic advisory.
| snippet2=Who is CMA Rakesh Bhalla? CMA Rakesh Bhalla is a former CFO and Procurement Head of SML Isuzu Ltd. with over 35 years of large corporate experience and current assignments in corporate governance, professional organisations and public service.
| snippet3=CMA Rakesh Bhalla Journey? CMA Rakesh Bhalla rose from a modest low-middle-class background, overcame early loss of parents, worked while studying, and built a 36-year career spanning corporate finance, business transformation and professional leadership.
| snippet3=CMA Rakesh Bhalla Journey? CMA Rakesh Bhalla has over 35 years of large corporate experience, has served in senior corporate and professional leadership roles, participated as a member of a business delegation accompanying Prime Minister Narendra Modi to the BRICS Summit in Rio, Brazil in 2025, and has received multiple national and international awards.
| keywords=CMA Rakesh Bhalla, Rakesh Bhalla, CMA Rakesh Bhalla Finance Professional, CMA Rakesh Bhalla SML Isuzu, CMA Rakesh Bhalla CFO, CMA Rakesh Bhalla ICMAI, CMA Rakesh Bhalla ASSOCHAM, CMA Rakesh Bhalla RBAC Advisory Consortium, CMA Rakesh Bhalla Chandigarh, CMA Rakesh Bhalla Independent Director, CMA Rakesh Bhalla Rail Vikas Nigam Limited, CMA Rakesh Bhalla RVNL
| keywords=CMA Rakesh Bhalla, Rakesh Bhalla, CMA Rakesh Bhalla Finance Professional, CMA Rakesh Bhalla SML Isuzu, CMA Rakesh Bhalla CFO, CMA Rakesh Bhalla ICMAI, CMA Rakesh Bhalla ASSOCHAM, CMA Rakesh Bhalla RBAC Advisory Consortium, CMA Rakesh Bhalla Chandigarh, CMA Rakesh Bhalla Independent Director, CMA Rakesh Bhalla Rail Vikas Nigam Limited, CMA Rakesh Bhalla RVNL, CMA Rakesh Bhalla BJP Professional Cell, CMA Rakesh Bhalla Chairman ASSOCHAM Chandigarh, CMA Rakesh Bhalla BRICS Summit, CMA Rakesh Bhalla Rio Brazil, CMA Rakesh Bhalla Awards
}}
}}
{{infow
{{infow
| title = CMA Rakesh Bhalla [[file:verified.png]]
| title = CMA Rakesh Bhalla [[file:verified.png]]
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| caption = CMA Rakesh Bhalla Photo
| caption = CMA Rakesh Bhalla Photo
| born = 7 August 1962
| born = 7 August 1962
| birth_place = Dakala Village
| birth_place = Charanalthal Village, Patiala District
| nationality = Indian
| nationality = Indian
| occupation = Finance Professional, Cost Accountant, Business Executive, Strategic Advisor, Independent Director
| occupation = Finance Professional, Cost Accountant, Business Executive, Strategic Advisor, Independent Director
| education = B.Com, ICWA (CMA)
| education = B.Com, ICWA (CMA)
| residence = Sector 70, Mohali, India
| residence = Sector 70, Mohali, India
| yearsactive = Finance and corporate services, 1986–present (40+ years)
| yearsactive = Finance and corporate services, November 1989–present
| knownfor = Former CFO and Chief Risk Officer of SML Isuzu Ltd., Finance and Corporate Leadership, Business Transformation at SML, RBAC Advisory Consortium Founder, Independent Director at Rail Vikas Nigam Limited
| knownfor = Former CFO and Procurement Head of SML Isuzu Ltd., Finance and Corporate Leadership, RBAC Advisory Consortium, Independent Director at Rail Vikas Nigam Limited
}}
}}
CMA Rakesh Bhalla is a finance professional and Fellow Member of the Institute of Cost Accountants of India (ICMAI), with over 36 years of corporate experience. Born into a modest low-middle-class family, he overcame early personal challenges including the loss of both parents during his education, worked while studying, and built a remarkable career in finance, corporate leadership and strategic advisory. He currently serves as an Independent Director at Rail Vikas Nigam Limited and as founder of RBAC Advisory Consortium.
 
CMA Rakesh Bhalla is a finance professional and Fellow Member of the Institute of Cost Accountants of India (ICMAI), with more than 35 years of large corporate experience. He is the Managing Director and Chief Executive Officer of RBAC Advisory Consortium Pvt Ltd. and serves as an Independent Director at Rail Vikas Nigam Limited. He is also the Chairman of ASSOCHAM Chandigarh, State Convenor of the Professional Cell of BJP Chandigarh, a Member of the Advisory Council of Chandigarh (UT), and a Member of the Standing Committee on Transportation, Chandigarh (UT). He holds lifetime membership of the Independent Directors' Data Bank maintained by the Indian Institute of Corporate Affairs (IICA).
 
CMA Rakesh Bhalla was also a member of a business delegation that accompanied Prime Minister Narendra Modi to the BRICS Summit in Rio de Janeiro, Brazil, in 2025. His professional career has been recognized through multiple awards and honours, including national recognitions and an international award for his contribution and leadership in the corporate and finance sector.
 
His professional career includes extensive experience in finance, taxation, internal audit, accounts, information technology, procurement, vendor development, corporate risk management and strategic advisory. He previously served as CFO and Procurement Head of SML Isuzu Ltd. and has held professional leadership positions including Vice President of ICMAI and Member of the National Managing Committee of ASSOCHAM.


==Early Life and Personal Challenges==
==Early Life and Personal Challenges==


CMA Rakesh Bhalla was born on 7 August 1962 in Dakala village into a low-middle-class family, where his father was the sole breadwinner supporting a family of six. Although resources were limited, his parents consistently valued education and encouraged their children to study and advance in life.
CMA Rakesh Bhalla was born on 7 August 1962 in Charanalthal village, Patiala district. He was born into a modest low-middle-class family, where his father was the sole breadwinner supporting a family of six.


His early years were marked by significant personal adversity. He lost his mother before completing his matriculation, and lost his father before completing his B.Com degree. With his father's passing, his family was left without its sole breadwinner during a period when Rakesh was still pursuing his education.
He completed his early education up to matriculation at Dakala village.


Despite these extraordinarily difficult and uncertain circumstances, Rakesh demonstrated determination and resolve. He made a conscious decision not to allow his circumstances to interrupt his education or limit his future possibilities.
His early years were marked by significant personal challenges. He lost his mother before completing matriculation and his father before completing his B.Com degree. Despite these circumstances, he continued his education and worked while studying.


==Education and Professional Qualification==
==Education and Professional Qualification==


Rakesh Bhalla completed his schooling at Government High School, Dakala village. He subsequently joined college as a Commerce student and earned his Bachelor of Commerce (B.Com) degree despite the personal challenges he faced during his studies.
Rakesh Bhalla completed his schooling up to matriculation at Government High School, Dakala village. He subsequently pursued commerce education and completed his Bachelor of Commerce (B.Com) degree.


Demonstrating exceptional discipline and commitment, he took up employment with the State Bank of India (SBI) while simultaneously continuing his professional education. Managing work and education simultaneously was not easy, but this period taught him discipline, perseverance, responsibility and the importance of never giving up.
He also obtained the ICWA qualification, presently known as the CMA qualification, and became a Fellow Member of the Institute of Cost Accountants of India.


While working with SBI, he successfully completed his ICWA qualification, now known as the CMA (Cost and Management Accountant) designation. Completing the ICWA while employed was a significant milestone in his life. It provided him not only with a professional qualification but also with the confidence that difficult circumstances could be overcome through hard work and determination.
While pursuing his professional education, he worked with the State Bank of India (SBI), balancing employment with his studies.


==Career Evolution==
==Career Evolution==


After obtaining his professional qualification, Rakesh Bhalla made an important career decision. He chose to leave his secure banking position and transition into the private sector, believing he would have greater opportunities to apply his professional knowledge, take on substantive challenges and build a meaningful career.
After obtaining his professional qualification, Rakesh Bhalla transitioned from banking into the private sector. This decision began a professional journey spanning more than three and a half decades.


This decision marked the beginning of a professional journey spanning more than three and a half decades.
===SML Isuzu Ltd.===


===SML Isuzu Ltd. Leadership (1986–May 2026)===
Rakesh Bhalla spent more than 35 years with SML Isuzu Ltd., formerly known as Swaraj Mazda Limited. During his tenure, he worked across several functions including Internal Audit, Taxation, Finance and Accounts, Information Technology, Procurement and Vendor Development.


Rakesh Bhalla spent 36+ years with SML Isuzu Ltd., formerly known as Swaraj Mazda Limited, serving in multiple capacities including Internal Audit, Taxation, Finance and Accounts, IT Department, Procurement and Vendor Development.
He headed the IT Department from 2007 to 2012. He subsequently led Procurement and Vendor Development from 2019 to 2025.


He headed the IT Department from 2007 to 2012, leading technology transformation and modernization initiatives. From 2019 to 2025, he led Procurement and Vendor Development functions.
He served as Chief Financial Officer and Procurement Head of SML Isuzu Ltd. during 2021–25.


====Chief Financial Officer and Chief Risk Officer====
===Chief Financial Officer and Chief Risk Officer===


He assumed the role of Chief Financial Officer of SML Isuzu in February 2021 during the COVID-19 pandemic. Under his financial leadership and strategic guidance, the company underwent a remarkable transformation:
Rakesh Bhalla assumed the role of Chief Financial Officer of SML Isuzu in February 2021 during the COVID-19 pandemic.


* Total income increased from ₹596.0 crores in FY 2020–21 to ₹2,405.1 crores in FY 2024–25
According to the provided profile, during his leadership:
* EBITDA margin improved from -10.7% to +10%, reaching 12.6% in Q1 FY 2025–26
* Profit transformed from a loss of ₹133.4 crores in FY 2020–21 to ₹162.4 crores in FY 2024–25
* Share price increased from ₹452 in March 2021 to over ₹4,000 in July 2025
* Market capitalization expanded from ₹654 crores to ₹5,788.65 crores
* Company declared a 180% dividend for FY 2024–25


He served as Chief Risk Officer alongside his CFO responsibilities, managing enterprise risk, governance, compliance and strategic decision-making. He continued in this leadership role with a post-retirement extension until 30 September 2025.
* Total income increased from ₹596.0 crores in FY 2020–21 to ₹2,405.1 crores in FY 2024–25.
* EBITDA margin improved from -10.7% to +10%, with Q1 FY 2025–26 stated at 12.6%.
* Profit increased from a loss of ₹133.4 crores in FY 2020–21 to ₹162.4 crores in FY 2024–25.
* The company's share price increased from ₹452 in March 2021 to more than ₹4,000 in July 2025, according to the provided information.
* Market capitalization increased from ₹654 crores to ₹5,788.65 crores, according to the provided information.
* The company declared a 180% dividend for FY 2024–25.


From October 2025 until his formal superannuation in May 2026, he served as Advisor to the CEO of SML Mahindra.
He also served as Chief Risk Officer alongside his CFO responsibilities.


===Professional Expertise===
From October 2025 until his formal superannuation in May 2026, he was involved in advisory functions as Advisor to the CEO, according to the provided profile.


* Corporate Finance
==Second Innings and Entrepreneurship==
* Cost Accounting
 
* Internal Audit
Following his corporate career, CMA Rakesh Bhalla established RBAC Advisory Consortium Pvt Ltd to provide single-window business solutions and strategic advisory services.
* Taxation
 
* Finance and Accounts
===RBAC Advisory Consortium Pvt Ltd===
* Information Technology Management
 
* Procurement and Vendor Development
CMA Rakesh Bhalla serves as Managing Director and Chief Executive Officer of RBAC Advisory Consortium Pvt Ltd.
* Supply Chain Management
 
* Corporate Risk Management and Governance
The organisation focuses on business solutions, strategic advisory and professional expertise based on his experience in finance, corporate leadership, procurement, risk management and business management.
* Strategic Advisory
 
* Business Leadership and Transformation
==Independent Director, Rail Vikas Nigam Limited==
* Business Solutions Development
 
CMA Rakesh Bhalla serves as an Independent Director at Rail Vikas Nigam Limited (RVNL).
 
RVNL is described in the provided profile as a Navratna public sector company with a turnover exceeding ₹20,000 crore.
 
His role as an Independent Director adds corporate governance and board-level responsibilities to his professional profile.
 
==Independent Directors' Data Bank==


==Second Innings: Retirement and New Beginnings==
CMA Rakesh Bhalla holds lifetime membership of the Independent Directors' Data Bank maintained by the Indian Institute of Corporate Affairs (IICA).


On 31 May 2026, Rakesh Bhalla formally completed his corporate career after more than 36 years of professional service.
The registration number provided in his profile is IDDB-DI-202511-082505.


For many professionals, retirement represents the closing of a chapter. For Rakesh Bhalla, it represents the opening of another. He has long believed that experience becomes meaningful only when it is shared.
==Current Professional and Public Assignments==


After spending decades in corporate leadership, he now has the opportunity to use that accumulated experience in broader, different ways. His second innings is not about slowing down, but about contributing differently.
CMA Rakesh Bhalla currently holds or is associated with several professional and public assignments.


===RBAC Advisory Consortium Pvt Ltd===
* Managing Director & CEO, RBAC Advisory Consortium Pvt Ltd.
* Independent Director, Rail Vikas Nigam Limited.
* Chairman, ASSOCHAM Chandigarh.
* State Convenor, Professional Cell, BJP Chandigarh.
* Member, Advisory Council, Chandigarh (UT).
* Member, Standing Committee, Transportation, Chandigarh (UT).
* Qualified Independent Director with lifetime membership of the Independent Directors' Data Bank by IICA.


Following his retirement, CMA Rakesh Bhalla founded RBAC Advisory Consortium Pvt Ltd to provide single-window business solutions, strategic advisory services and knowledge-based consulting to businesses and professionals.
==Professional Leadership Positions==


===Independent Director, Rail Vikas Nigam Limited===
CMA Rakesh Bhalla has held leadership positions in professional and industry organisations.


CMA Rakesh Bhalla was recently appointed as an Independent Director at Rail Vikas Nigam Limited (RVNL), a Navratna public sector company with a turnover exceeding ₹20,000 crore. He holds a lifetime registration certificate from the Indian Institute of Corporate Affairs' Independent Directors' Data Bank (IDDB-DI-202511-082505).
* Vice President (2022–23), Institute of Cost Accountants of India (ICMAI).
* CFO & Procurement Head, SML Isuzu Ltd. (2021–25).
* Member, National Managing Committee, ASSOCHAM.


This directorship represents his commitment to good governance, independent thought, professional integrity and strategic contribution to an organization of national importance.
He has also served as Chairman of the ASSOCHAM Chandigarh Council and has remained involved in professional and industry representation.


==Professional and Public Service==
==Professional and Public Service==


CMA Rakesh Bhalla maintains active involvement in professional and public institutions:
CMA Rakesh Bhalla has maintained active involvement in professional and public institutions.
 
===ASSOCHAM===
 
He serves as Chairman of ASSOCHAM Chandigarh and is a Member of the National Managing Committee of ASSOCHAM.
 
===Institute of Cost Accountants of India===
 
He served as Vice President of ICMAI during 2022–23 and has also served as a Central Council Member.
 
===Chandigarh Assignments===
 
His Chandigarh-related assignments include:
 
* Chairman, ASSOCHAM Chandigarh.
* State Convenor, Professional Cell, BJP Chandigarh.
* Member, Advisory Council, Chandigarh (UT).
* Member, Standing Committee, Transportation, Chandigarh (UT).


* **ASSOCHAM** — Chairman, Chandigarh Council; Member, National Managing Committee
==Achievements and Honours==
* **Institute of Cost Accountants of India (ICMAI)** — Former Vice President (2022–2023); Central Council Member
* **Institute of Materials Management (IIMM)** — Life Member
* **Chandigarh Governance** — Member, Administrators' Advisory Council; Member, Standing Committee (Transportation)
* **Political Engagement** — Convener, Chandigarh BJP Professional Cell; Co-Convenor, State Team for Next-Gen GST Reforms; Member, BJP Economic Cell


He participated as a member of a business delegation that accompanied Prime Minister Shri Narendra Modi to the BRICS Summit in Rio, Brazil.
CMA Rakesh Bhalla was a member of a business delegation that accompanied Prime Minister Narendra Modi to the BRICS Summit in Rio de Janeiro, Brazil, in 2025.


==Awards and Recognition==
==Awards and Recognition==
CMA Rakesh Bhalla has received multiple professional and industry recognitions, including national and international honours.


===National Recognition===
===National Recognition===


* CFO of the Year 2024–25 – Excellence in Turnaround, Confederation of Indian Industry (CII), 12 September 2025
* CFO of the Year 2024–25 – Excellence in Turnaround, Confederation of Indian Industry (CII).
* CFO Outstanding Performer Award 2024, Institute of Cost and Management Accountants of India (ICMAI), 23 June 2025
* Distinguished SCM & Outstanding CFO – IIMM 2024.
* Distinguished Supply Chain Management & Outstanding CFO Award, Institute of Materials Management (IIMM), 29 November 2024
* CMA CFO Award 2024 – Outstanding Performer, ICMAI.
* India CFO Award 2024, Biz Integration, 16 February 2024
* India CFO Award 2024 – Best CFO in Manufacturing Automobile.
* CMA Achiever Award 2016, Institute of Cost Accountants of India (ICAI), 28 May 2016
* CMA Achiever Award – ICMAI, 2016.


===International Recognition===
===International Recognition===


* Inspiring CFO 2025 – Indian Automotive Industry Global Excellence & Leadership Awards, Dubai
* Inspiring CFO 2025 – Indian Automotive Industry Global Excellence & Leadership Awards, Dubai.


==Philosophy and Vision Forward==
==Professional Expertise==


Rakesh Bhalla's life journey has shaped a clear philosophy: circumstances may determine where one begins, but determination, education and perseverance determine how far one can go.
CMA Rakesh Bhalla's professional experience includes:
 
* Corporate Finance
* Cost Accounting
* Internal Audit
* Taxation
* Finance and Accounts
* Information Technology Management
* Procurement
* Vendor Development
* Supply Chain Management
* Corporate Risk Management
* Corporate Governance
* Strategic Advisory
* Business Leadership
* Business Transformation
* Business Solutions
* Independent Directorship


Having benefited from people who guided, encouraged and gave him opportunities, he is now committed to playing that role for others. He believes young professionals should understand that meaningful careers do not require privilege—they require education, discipline, courage and perseverance.
==Professional Profile==


He views his current phase not by what he accomplishes, but by the value he creates for others. His focus includes board responsibility, professional contribution, industry engagement, advisory work, mentoring, knowledge sharing and social responsibility.
CMA Rakesh Bhalla's professional profile combines more than 35 years of large corporate experience with current responsibilities in business advisory, corporate governance, professional organisations and public service.


His message to young professionals is direct: do not be discouraged by where you start. Recognize opportunities within your circumstances, work hard, keep learning, remain humble and never underestimate the power of persistence.
His career has covered finance, accounting, taxation, internal audit, information technology, procurement, vendor development, risk management and corporate leadership. His current assignments include leadership of RBAC Advisory Consortium, Independent Directorship at Rail Vikas Nigam Limited, Chairmanship of ASSOCHAM Chandigarh and professional and public-service responsibilities in Chandigarh.


==Contact Information==
==Contact Information==


* Date of Birth: 7 August 1962
* Date of Birth: 7 August 1962
* Residence: #4551, Sector 70, Mohali, Chandigarh
* Residence: Sector 70, Mohali, India
* Mobile: 9779010685
* Mobile: 9779010685
* Email: nancybhalla@yahoo.com
* Email: nancybhalla@yahoo.com

Latest revision as of 11:07, 24 August 2026


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|snippet=
|snippet2=Who is CMA Rakesh Bhalla? CMA Rakesh Bhalla is a former CFO and Procurement Head of SML Isuzu Ltd. with over 35 years of large corporate experience and current assignments in corporate governance, professional organisations and public service.
|snippet3=CMA Rakesh Bhalla Journey? CMA Rakesh Bhalla has over 35 years of large corporate experience, has served in senior corporate and professional leadership roles, participated as a member of a business delegation accompanying Prime Minister Narendra Modi to the BRICS Summit in Rio, Brazil in 2025, and has received multiple national and international awards.
|keywords=CMA Rakesh Bhalla, Rakesh Bhalla, CMA Rakesh Bhalla Finance Professional, CMA Rakesh Bhalla SML Isuzu, CMA Rakesh Bhalla CFO, CMA Rakesh Bhalla ICMAI, CMA Rakesh Bhalla ASSOCHAM, CMA Rakesh Bhalla RBAC Advisory Consortium, CMA Rakesh Bhalla Chandigarh, CMA Rakesh Bhalla Independent Director, CMA Rakesh Bhalla Rail Vikas Nigam Limited, CMA Rakesh Bhalla RVNL, CMA Rakesh Bhalla BJP Professional Cell, CMA Rakesh Bhalla Chairman ASSOCHAM Chandigarh, CMA Rakesh Bhalla BRICS Summit, CMA Rakesh Bhalla Rio Brazil, CMA Rakesh Bhalla Awards

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CMA Rakesh Bhalla is a finance professional and Fellow Member of the Institute of Cost Accountants of India (ICMAI), with more than 35 years of large corporate experience. He is the Managing Director and Chief Executive Officer of RBAC Advisory Consortium Pvt Ltd. and serves as an Independent Director at Rail Vikas Nigam Limited. He is also the Chairman of ASSOCHAM Chandigarh, State Convenor of the Professional Cell of BJP Chandigarh, a Member of the Advisory Council of Chandigarh (UT), and a Member of the Standing Committee on Transportation, Chandigarh (UT). He holds lifetime membership of the Independent Directors' Data Bank maintained by the Indian Institute of Corporate Affairs (IICA).

CMA Rakesh Bhalla was also a member of a business delegation that accompanied Prime Minister Narendra Modi to the BRICS Summit in Rio de Janeiro, Brazil, in 2025. His professional career has been recognized through multiple awards and honours, including national recognitions and an international award for his contribution and leadership in the corporate and finance sector.

His professional career includes extensive experience in finance, taxation, internal audit, accounts, information technology, procurement, vendor development, corporate risk management and strategic advisory. He previously served as CFO and Procurement Head of SML Isuzu Ltd. and has held professional leadership positions including Vice President of ICMAI and Member of the National Managing Committee of ASSOCHAM.

Early Life and Personal Challenges

CMA Rakesh Bhalla was born on 7 August 1962 in Charanalthal village, Patiala district. He was born into a modest low-middle-class family, where his father was the sole breadwinner supporting a family of six.

He completed his early education up to matriculation at Dakala village.

His early years were marked by significant personal challenges. He lost his mother before completing matriculation and his father before completing his B.Com degree. Despite these circumstances, he continued his education and worked while studying.

Education and Professional Qualification

Rakesh Bhalla completed his schooling up to matriculation at Government High School, Dakala village. He subsequently pursued commerce education and completed his Bachelor of Commerce (B.Com) degree.

He also obtained the ICWA qualification, presently known as the CMA qualification, and became a Fellow Member of the Institute of Cost Accountants of India.

While pursuing his professional education, he worked with the State Bank of India (SBI), balancing employment with his studies.

Career Evolution

After obtaining his professional qualification, Rakesh Bhalla transitioned from banking into the private sector. This decision began a professional journey spanning more than three and a half decades.

SML Isuzu Ltd.

Rakesh Bhalla spent more than 35 years with SML Isuzu Ltd., formerly known as Swaraj Mazda Limited. During his tenure, he worked across several functions including Internal Audit, Taxation, Finance and Accounts, Information Technology, Procurement and Vendor Development.

He headed the IT Department from 2007 to 2012. He subsequently led Procurement and Vendor Development from 2019 to 2025.

He served as Chief Financial Officer and Procurement Head of SML Isuzu Ltd. during 2021–25.

Chief Financial Officer and Chief Risk Officer

Rakesh Bhalla assumed the role of Chief Financial Officer of SML Isuzu in February 2021 during the COVID-19 pandemic.

According to the provided profile, during his leadership:

  • Total income increased from ₹596.0 crores in FY 2020–21 to ₹2,405.1 crores in FY 2024–25.
  • EBITDA margin improved from -10.7% to +10%, with Q1 FY 2025–26 stated at 12.6%.
  • Profit increased from a loss of ₹133.4 crores in FY 2020–21 to ₹162.4 crores in FY 2024–25.
  • The company's share price increased from ₹452 in March 2021 to more than ₹4,000 in July 2025, according to the provided information.
  • Market capitalization increased from ₹654 crores to ₹5,788.65 crores, according to the provided information.
  • The company declared a 180% dividend for FY 2024–25.

He also served as Chief Risk Officer alongside his CFO responsibilities.

From October 2025 until his formal superannuation in May 2026, he was involved in advisory functions as Advisor to the CEO, according to the provided profile.

Second Innings and Entrepreneurship

Following his corporate career, CMA Rakesh Bhalla established RBAC Advisory Consortium Pvt Ltd to provide single-window business solutions and strategic advisory services.

RBAC Advisory Consortium Pvt Ltd

CMA Rakesh Bhalla serves as Managing Director and Chief Executive Officer of RBAC Advisory Consortium Pvt Ltd.

The organisation focuses on business solutions, strategic advisory and professional expertise based on his experience in finance, corporate leadership, procurement, risk management and business management.

Independent Director, Rail Vikas Nigam Limited

CMA Rakesh Bhalla serves as an Independent Director at Rail Vikas Nigam Limited (RVNL).

RVNL is described in the provided profile as a Navratna public sector company with a turnover exceeding ₹20,000 crore.

His role as an Independent Director adds corporate governance and board-level responsibilities to his professional profile.

Independent Directors' Data Bank

CMA Rakesh Bhalla holds lifetime membership of the Independent Directors' Data Bank maintained by the Indian Institute of Corporate Affairs (IICA).

The registration number provided in his profile is IDDB-DI-202511-082505.

Current Professional and Public Assignments

CMA Rakesh Bhalla currently holds or is associated with several professional and public assignments.

  • Managing Director & CEO, RBAC Advisory Consortium Pvt Ltd.
  • Independent Director, Rail Vikas Nigam Limited.
  • Chairman, ASSOCHAM Chandigarh.
  • State Convenor, Professional Cell, BJP Chandigarh.
  • Member, Advisory Council, Chandigarh (UT).
  • Member, Standing Committee, Transportation, Chandigarh (UT).
  • Qualified Independent Director with lifetime membership of the Independent Directors' Data Bank by IICA.

Professional Leadership Positions

CMA Rakesh Bhalla has held leadership positions in professional and industry organisations.

  • Vice President (2022–23), Institute of Cost Accountants of India (ICMAI).
  • CFO & Procurement Head, SML Isuzu Ltd. (2021–25).
  • Member, National Managing Committee, ASSOCHAM.

He has also served as Chairman of the ASSOCHAM Chandigarh Council and has remained involved in professional and industry representation.

Professional and Public Service

CMA Rakesh Bhalla has maintained active involvement in professional and public institutions.

ASSOCHAM

He serves as Chairman of ASSOCHAM Chandigarh and is a Member of the National Managing Committee of ASSOCHAM.

Institute of Cost Accountants of India

He served as Vice President of ICMAI during 2022–23 and has also served as a Central Council Member.

Chandigarh Assignments

His Chandigarh-related assignments include:

  • Chairman, ASSOCHAM Chandigarh.
  • State Convenor, Professional Cell, BJP Chandigarh.
  • Member, Advisory Council, Chandigarh (UT).
  • Member, Standing Committee, Transportation, Chandigarh (UT).

Achievements and Honours

CMA Rakesh Bhalla was a member of a business delegation that accompanied Prime Minister Narendra Modi to the BRICS Summit in Rio de Janeiro, Brazil, in 2025.

Awards and Recognition

CMA Rakesh Bhalla has received multiple professional and industry recognitions, including national and international honours.

National Recognition

  • CFO of the Year 2024–25 – Excellence in Turnaround, Confederation of Indian Industry (CII).
  • Distinguished SCM & Outstanding CFO – IIMM 2024.
  • CMA CFO Award 2024 – Outstanding Performer, ICMAI.
  • India CFO Award 2024 – Best CFO in Manufacturing Automobile.
  • CMA Achiever Award – ICMAI, 2016.

International Recognition

  • Inspiring CFO 2025 – Indian Automotive Industry Global Excellence & Leadership Awards, Dubai.

Professional Expertise

CMA Rakesh Bhalla's professional experience includes:

  • Corporate Finance
  • Cost Accounting
  • Internal Audit
  • Taxation
  • Finance and Accounts
  • Information Technology Management
  • Procurement
  • Vendor Development
  • Supply Chain Management
  • Corporate Risk Management
  • Corporate Governance
  • Strategic Advisory
  • Business Leadership
  • Business Transformation
  • Business Solutions
  • Independent Directorship

Professional Profile

CMA Rakesh Bhalla's professional profile combines more than 35 years of large corporate experience with current responsibilities in business advisory, corporate governance, professional organisations and public service.

His career has covered finance, accounting, taxation, internal audit, information technology, procurement, vendor development, risk management and corporate leadership. His current assignments include leadership of RBAC Advisory Consortium, Independent Directorship at Rail Vikas Nigam Limited, Chairmanship of ASSOCHAM Chandigarh and professional and public-service responsibilities in Chandigarh.

Contact Information

  • Date of Birth: 7 August 1962
  • Residence: Sector 70, Mohali, India
  • Mobile: 9779010685
  • Email: nancybhalla@yahoo.com
  • Email: bhalla.rakesh.cma@gmail.com
  • Email: rbac70@gmail.com

External Links

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