IIFL Finance Ltd, a prominent retail-focused Non-Banking Financial Company (NBFC), has appointed Mr. B.P. Kanungo, former Deputy Governor of the Reserve Bank of India, as an Independent Director on its Board. Mr. Kanungo, who served the RBI for nearly four decades, brings vast expertise in areas such as monetary policy, foreign exchange regulation, currency management, consumer protection, and financial inclusion.
During his tenure as RBI Deputy Governor from 2017 to 2021, Mr. Kanungo was a key member of the Monetary Policy Committee and played a crucial role in shaping India’s financial regulatory landscape. He has also held senior roles as RBI’s Regional Director across several states and served as Nominee Director on the boards of major institutions including PNB, NHB, and NABARD. Post his RBI stint, he was Director at CAFRAL, focusing on advanced financial research and executive education.
Expressing his enthusiasm for the new role, Mr. Kanungo said he looked forward to working with IIFL Finance to enhance governance, risk management, and support the company’s mission of delivering technology-driven financial services to underserved communities.
IIFL Finance Limited
IIFL Finance Ltd is a leading retail-focused Non-Banking Financial Company (NBFC) in India, with a strong franchise delivering last-mile credit and financial solutions through an extensive branch network. It specializes in technology-driven lending to underbanked customers, focusing on financial inclusion and robust risk and governance practices.
