SBI Life Insurance Company Limited has announced the appointment of Mr. Nihar Niranjan Jambusaria as an Additional Independent Director. Approved by the Board of Directors on September 22, 2026, his tenure will be for three consecutive years, commencing the same day. Mr. Jambusaria is a seasoned Chartered Accountant with extensive experience in finance and taxation.
Board Approves New Independent Director
On September 22, 2026, the Board of Directors of SBI Life Insurance Company Limited convened a meeting where they approved the appointment of Mr. Nihar Niranjan Jambusaria as an Additional Independent Director. This decision was made based on the recommendation of the Board Nomination and Remuneration Committee.
Director’s Tenure and Background
Mr. Jambusaria’s appointment is effective immediately and will continue for a term of three years, starting from September 22, 2026. He will serve as an Independent Director not liable to retire by rotation. Mr. Jambusaria qualified as a Chartered Accountant in 1984 and brings over four decades of experience in finance and taxation. He previously served as Senior Vice President – Taxation at Reliance Industries Limited and is currently engaged in advisory practice in areas such as Direct Tax, International Tax, Mergers & Acquisitions, FEMA matters, and Business Restructuring.
Professional Experience and Governance
Further details provided in Annexure A highlight Mr. Jambusaria’s extensive professional background. He serves on the Boards of several companies, including IIFL Finance Limited and The Clearing Corporation of India Limited. Additionally, he has held prominent positions such as President and Vice President of the Institute of Chartered Accountants of India (ICAI) and Chairman of the IndAS Implementation Committee. He also served on the Board of NFRA as ICAI’s ex-officio representative. The company confirmed that Mr. Jambusaria is not debarred from holding a director’s office by any SEBI order or other authority. The outcome of this board meeting is also available on the company’s website.
Source: BSE
