Morarka Finance Limited has received approval from the Reserve Bank of India (RBI) for the appointment of Mr. Pranay G. Morarka (DIN: 03272263) as its Managing Director. This follows previous communications and shareholder approval obtained at the company’s 41st Annual General Meeting on July 15, 2026. All necessary statutory approvals are now in place for Mr. Morarka’s role.
RBI Approves Key Leadership Appointment
Morarka Finance Limited announced today that it has secured the final approval from the Reserve Bank of India (RBI) for the appointment of Mr. Pranay G. Morarka as the company’s new Managing Director. This significant development, dated August 27, 2026, marks the culmination of a formal application process through the RBI’s PRAVAAH portal.
Formalizing Leadership Changes
The company had previously initiated this process with applications referenced as MFL/2026-27/039 on June 03, 2026, and MFL/2026-27/060 on July 15, 2026. Shareholder approval for Mr. Morarka’s appointment was also obtained during the 41st Annual General Meeting (AGM) held on July 15, 2026. With the RBI’s endorsement, all statutory requirements for this leadership transition have been met.
Source: BSE
