The Company has informed the exchanges regarding appointment of Mr. Bibhu Prasad Kanungo as Additional Non-Executive Independent Director w.e.f. June 16, 2025.
Awaiting price reaction for this filing.
IIFL Finance has appointed Mr. Bibhu Prasad Kanungo (DIN: 07820090) as an Additional Non-Executive Independent Director effective June 16, 2025. Mr. Kanungo is a former Deputy Governor of the Reserve Bank of India with nearly four decades of central banking experience (2017–2021). During his RBI tenure he oversaw Currency Management, Foreign Exchange, Payment Systems, Government Debt, and was a member of the Monetary Policy Committee. He also served as RBI's Nominee Director on the boards of Punjab National Bank, Punjab and Sindh Bank, National Housing Bank, and NABARD. The appointment was made on the recommendation of the Nomination and Remuneration Committee, and he is not debarred by SEBI from holding a directorship.
Adding a former RBI Deputy Governor to the board strengthens IIFL Finance's governance and regulatory credibility, which may be viewed positively by investors given the company's NBFC operations. This is a routine board expansion and does not signal any strategic change.