IIFL Finance Ltd designates former RBI Deputy Governor Mr. B. P. Kanungo as Chairperson of the Board

IIFL Finance Limited, one of India's leading Non-Banking Financial Companies, designates Mr. Bibhu Prasad Kanungo as Chairperson of the Board, with immediate effect.

The Board of Directors, at its meeting held today, unanimously designated Mr. Kanungo as Chairperson, underscoring its strong confidence in his leadership, independence, and deep regulatory and institutional expertise.

Mr. Kanungo brings with him over four decades of distinguished experience in central banking, monetary policy, and financial regulation. He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was a Member of the Monetary Policy Committee (MPC) during a pivotal phase of India's financial-sector evolution. His tenure was marked by a strong focus on supervisory strengthening, regulatory reforms, consumer protection, and institutional resilience.

Prior to his role as Deputy Governor, Mr. Kanungo held several senior leadership positions at the RBI, including Regional Director across multiple states and Banking Ombudsman, where he played a key role in advancing grievance redressal mechanisms and reinforcing trust in the financial system.

Mr. Kanungo currently serves as a Non-Executive Independent Director on the Board of IIFL Finance Limited. His elevation as Chairperson further reinforces the Company's commitment to high standards of corporate governance, independent oversight, and regulatory discipline, in full alignment with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Accepting the offer of the Board to be the Chairperson of IIFL Finance Limited, Mr. Bibhu Prasad Kanungo, said: "I would work towards enhancing Corporate Governance, System & Controls and Compliance functions in the organisation in close coordination with the Management and the Board while emphasising customer centricity and transparency in its operations to make IIFL Finance Limited the best in class financial entity of all stakeholders."

Mr. Nirmal Jain, Founder & Managing Director, IIFL Finance Limited, said: "The appointment of Mr. Kanungo as Chairperson marks an important milestone in further strengthening IIFL Finance Limited's governance architecture and positioning the institution for its next phase of growth. His distinguished experience in central banking, monetary policy, and financial regulation will provide invaluable guidance as the Company continues to build a resilient, transparent, and institutionally robust franchise, anchored in financial inclusion and sustainable value creation for all stakeholders."

As Chairperson, Mr. Kanungo will lead the Board in setting strategic direction, enhancing governance standards, and safeguarding the interests of shareholders, customers, regulators, and other stakeholders.

Shares of IIFL Finance Limited was last trading in BSE at Rs. 564.55 as compared to the previous close of Rs. 560.50. The total number of shares traded during the day was 24350 in over 1194 trades.

The stock hit an intraday high of Rs. 569.20 and intraday low of 558.70. The net turnover during the day was Rs. 13698242.00.

Source : Equity Bulls

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IIFLFinance INE530B01024 Chairperson