IIFL Finance Limited has informed the Exchanges regarding Press Release dated June 16, 2025, titled- Former RBI Deputy Governor Shri B.P. Kanungo Joins Board of IIFL Finance.
Awaiting price reaction for this filing.
IIFL Finance has appointed Shri B.P. Kanungo, former Deputy Governor of the Reserve Bank of India (2017-2021), as an Independent Director on its Board. Kanungo brings nearly four decades of central banking experience, including expertise in monetary policy, foreign exchange regulation, payment systems, financial inclusion, and consumer protection. He previously served on the boards of Punjab National Bank, NABARD, and National Housing Bank as RBI's nominee, and also worked with international bodies like the Bank for International Settlements. IIFL Finance is one of India's largest retail-focused NBFCs with subsidiaries IIFL Home Finance and IIFL Samasta Finance, operating 4,906 branches and serving over 8 million customers.
This high-profile appointment signals a stronger governance and compliance focus for IIFL Finance. Investors may view this positively as it brings deep regulatory credibility, though it is unlikely to cause an immediate stock price reaction since it's a non-executive board addition rather than a leadership change.