LIC Housing Finance Ltd (LICHFL) announced key outcomes from its Board meeting held on March 25, 2026. The Board approved a substantial aggregate Borrowing Budget of ₹1,27,000 Crore for Financial Year 2026-27, covering various debt instruments. Furthermore, the tenures of two key executives were approved: Mr. J. Sangameswar’s tenure as Chief Risk Officer was extended, and Mr. Jimit Narendra Shah was appointed as the new Chief Information Security Officer (CISO).
Key Outcomes of Board Meeting (March 25, 2026)
The Board of Directors of LIC Housing Finance Ltd convened on Wednesday, March 25, 2026, starting at 02:30 P.M. and concluding at 07:30 P.M. The primary resolutions passed included the approval of the annual borrowing budget and strategic leadership appointments, following recommendations from respective Board committees.
1. Borrowing Budget for FY 2026-27
Based on the Audit Committee’s recommendation dated March 24, 2026, the Board sanctioned the aggregate Borrowing Budget of ₹1,27,000 Crore for the Financial Year 2026-2027. This borrowing will be executed through multiple avenues, including Loans, various forms of Debentures (Redeemable Non-Convertible, Zero Couponed, Upper Tier II), Commercial Paper, External Commercial Borrowing, and Securitization.
This approval specifically includes the potential fund raising via issuance of Redeemable Non-Convertible Debentures, Zero Couponed Bonds, or Tier II Bonds up to ₹35,000 Crores during the fiscal year.
2. Extension of Chief Risk Officer Tenure
Following the recommendations of the Risk Management Committee, the Board approved the extension of tenure for Mr. J. Sangameswar as Chief Risk Officer. This extension will be effective from May 09, 2026, and continue up to April 30, 2028.
3. Appointment of Chief Information Security Officer (CISO)
The Board approved the appointment of Mr. Jimit Narendra Shah as the Chief Information Security Officer (CISO), based on the recommendations of the Nomination and Remuneration Committee. Mr. Shah’s appointment is effective from his intended date of joining, April 10, 2026, for a tenure period of three years.
All relevant documents pertaining to these decisions have been made available on the Company’s official website, https://www.lichousing.com/.
Source: BSE
