NBFC firm IIFL Finance has announced the appointment of former RBI Deputy Governor B. P. Kanungo as Chairperson of the Board.
As Chairperson, Kanungo will lead the Board in setting strategic direction, enhancing governance standards, and safeguarding the interests of shareholders, customers, regulators, and other stakeholders.
Kanungo brings with him over four decades of distinguished experience in central banking, monetary policy, and financial regulation. He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was a Member of the Monetary Policy Committee (MPC).
Prior to his role as Deputy Governor, Kanungo held several senior leadership positions at the RBI, including Regional Director across multiple states and Banking Ombudsman, where he played a key role in advancing grievance redressal mechanisms and reinforcing trust in the financial system.
Kanungo currently serves as a Non-Executive Independent Director on the Board of IIFL Finance Limited. His elevation as Chairperson further reinforces the Company’s commitment to high standards of corporate governance, independent oversight, and regulatory discipline, in full alignment with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Bibhu Prasad Kanungo said, “I would work towards enhancing Corporate Governance, System & Controls and Compliance functions in the organisation in close coordination with the Management and the Board while emphasising customer centricity and transparency in its operations to make IIFL Finance Limited the best in class financial entity of all stakeholders.”
Nirmal Jain, Founder & Managing Director, IIFL Finance, said, “The appointment of Mr Kanungo as Chairperson marks an important milestone in further strengthening IIFL Finance Limited’s governance architecture and posiƟoning the insƟtuƟon for its next phase of growth. His disƟnguished experience in central banking, monetary policy, and financial regulaƟon will provide invaluable guidance as the Company conƟnues to build a resilient, transparent, and insƟtuƟonally robust franchise, anchored in financial inclusion and sustainable value creaƟon for all stakeholders.”
