IIFL Finance Appoints Former RBI Deputy Governor as Board Chairperson
Filing Summary
IIFL Finance Limited has appointed Mr. Bibhu Prasad Kanungo as the Chairperson of its Board, effective immediately. Mr. Kanungo, a former Deputy Governor of the Reserve Bank of India, brings over four decades of experience in central banking and financial regulation. His appointment aligns with IIFL Finance’s commitment to corporate governance and regulatory compliance. The decision was made during a Board meeting on December 19, 2025. Mr. Kanungo’s role will involve setting strategic direction and enhancing governance standards. IIFL Finance is a leading non-banking financial company in India, offering a wide range of financial products.
IIFL Finance Limited has announced the appointment of Mr. Bibhu Prasad Kanungo as the new Chairperson of its Board. This decision was made during the Board of Directors meeting held on December 19, 2025. Mr. Kanungo, who previously served as Deputy Governor of the Reserve Bank of India from 2017 to 2021, will assume his role with immediate effect. The appointment reflects the Board’s confidence in his leadership and extensive experience in financial regulation and central banking.
The filing does not specify any financial terms or compensation related to Mr. Kanungo’s appointment as Chairperson. The focus of the announcement is on his designation and the strategic direction he is expected to provide to the Board. There are no details regarding payment structures or financial commitments associated with this role.
Mr. Kanungo’s responsibilities as Chairperson will include leading the Board in setting strategic direction and enhancing governance standards. His role will also involve safeguarding the interests of shareholders, customers, regulators, and other stakeholders. The filing highlights his previous experience in central banking, monetary policy, and financial regulation, which are expected to contribute to his leadership at IIFL Finance.
The context of Mr. Kanungo’s appointment is rooted in his extensive background in financial regulation and governance. His tenure at the Reserve Bank of India was marked by a focus on supervisory strengthening, regulatory reforms, and consumer protection. These experiences are relevant to his new role at IIFL Finance, where he will be expected to uphold high standards of corporate governance and regulatory discipline.
The appointment of Mr. Kanungo was finalized during the Board meeting on December 19, 2025. The filing does not provide specific implementation dates or milestones related to his role as Chairperson. However, it indicates that his leadership will be instrumental in guiding the company’s strategic initiatives and governance practices.
IIFL Finance Limited is a prominent non-banking financial company in India, focusing on retail financial services. The company offers a diverse range of products, including home loans, gold loans, business loans, and microfinance. With a network of over 4,900 branches and digital channels, IIFL Finance serves more than 8 million customers across India. The company’s strategic priorities include financial inclusion and sustainable value creation for stakeholders.