IIFL Finance Limited has informed the Exchange regarding Appointment of Mr Bibhu Prasad Kanungo as Non- Executive Independent Director of the company w.e.f. Jun 16, 2025.
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IIFL Finance Limited has appointed Mr. Bibhu Prasad Kanungo (DIN: 07820090) as an Additional Non-Executive Independent Director, effective June 16, 2025. The appointment was recommended by the Nomination and Remuneration Committee and approved by the Board, and he will serve until the period specified under Regulation 17(1C) of the Listing Regulations. Mr. Kanungo is a former Deputy Governor of the Reserve Bank of India (2017–2021) with nearly four decades of central banking experience across currency management, forex regulation, payment systems, government debt, and financial inclusion. He was also a member of the Monetary Policy Committee, an RBI Nominee Director on boards of several major banks (PNB, Punjab & Sindh Bank, NABARD, National Housing Bank), and a Director at CAFRAL post his RBI tenure. The filing confirms he is not debarred from holding a directorship by any SEBI order.
This is a routine independent director appointment and is unlikely to move the stock price. However, the addition of a highly credentialed former RBI Deputy Governor to the board strengthens governance and regulatory credibility, which is a positive signal for a non-banking finance company like IIFL Finance.