IIFL Finance Limited has informed the Exchange regarding a press release dated June 16, 2025, titled "- Former RBI Deputy Governor Shri B.P. Kanungo Joins Board of IIFL Finance".
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IIFL Finance Limited has appointed Shri B.P. Kanungo, former Deputy Governor of the Reserve Bank of India (RBI), as an Independent Director on its Board, effective June 16, 2025. Shri Kanungo served at the RBI for nearly four decades and was Deputy Governor from 2017 to 2021, during which he was a member of the Monetary Policy Committee. His expertise spans currency management, foreign exchange regulation, payment systems, financial inclusion, consumer protection, and IT governance. He also previously served on the boards of Punjab National Bank, Punjab & Sind Bank, National Housing Bank, and NABARD as RBI's nominee. IIFL Finance is one of India's largest retail-focused NBFCs with 4,906 branches and over 8 million customers, offering home, gold, MSME, microfinance, and capital market loans.
The addition of a former RBI Deputy Governor with deep regulatory and governance expertise is likely to be viewed positively by investors, as it may strengthen IIFL Finance's compliance framework, risk management, and regulatory standing—especially relevant given the increased RBI scrutiny on NBFCs.