IIFL Finance has appointed Mr. Bibhu Prasad Kanungo, former Deputy Governor of the Reserve Bank of India, as its Chairperson, effective immediately. Mr. Kanungo’s appointment underscores the company’s commitment to high standards of corporate governance. He brings over four decades of central banking, monetary policy, and financial regulation expertise to IIFL Finance. He was a Member of the Monetary Policy Committee (MPC) from 2017 to 2021.
New Leadership at IIFL Finance
IIFL Finance has designated Mr. Bibhu Prasad Kanungo, previously Deputy Governor at the Reserve Bank of India, as the Chairperson of the Board, effective immediately. The Board of Directors unanimously selected Mr. Kanungo, demonstrating strong confidence in his leadership and deep understanding of regulatory and institutional landscapes.
Kanungo’s Expertise
Mr. Kanungo has over four decades of 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). His tenure focused on supervisory strengthening, regulatory reforms, consumer protection, and institutional resilience. He also held senior leadership positions at the RBI, including Regional Director and Banking Ombudsman.
Commitment to Governance
Mr. Kanungo currently serves as a Non-Executive Independent Director on the Board of IIFL Finance Limited. His elevation to Chairperson reinforces the Company’s commitment to corporate governance and independent oversight. Mr. Nirmal Jain, Founder & Managing Director of IIFL Finance Limited, noted that Mr. Kanungo’s appointment marks an important milestone in strengthening IIFL Finance Limited’s governance architecture.
About IIFL Finance
IIFL Finance Limited is a retail-focused diversified NBFC, engaged in loans and mortgages through its subsidiaries, IIFL Home Finance Limited and IIFL Samasta Finance Limited. The Company offers products including Home Loans, Gold Loans, Business Loans, Microfinance, Capital Market Finance, and Developer & Construction Finance, serving over 8 million customers through a pan-India network of over 4,900 branches and digital channels.
Source: BSE
