IIFL Finance Appoints Former RBI Deputy Governor B P Kanungo as Board Chairperson

New Delhi: IIFL Finance has appointed former Reserve Bank of India (RBI) Deputy Governor Bibhu Prasad Kanungo as the Chairperson of its Board, with immediate effect. The appointment was unanimously approved by the board during its meeting held on December 19, 2025.

The company said the move reflects its continued focus on strengthening corporate governance, regulatory compliance, and independent oversight. Kanungo was already serving as a non-executive independent director on the board of IIFL Finance before being elevated to the role of chairperson.

With over four decades of experience in central banking and financial regulation, Kanungo brings deep expertise to the position. He served as RBI Deputy Governor from 2017 to 2021 and was a member of the Monetary Policy Committee (MPC) during his tenure. Earlier in his career, he held several senior roles at the RBI, including Regional Director and Banking Ombudsman.

IIFL Finance said Kanungo’s appointment is in line with SEBI’s listing regulations and reinforces the company’s commitment to transparent governance practices. As chairperson, he will guide the board on strategy, governance matters, and stakeholder interests.

IIFL Finance is a leading retail-focused diversified non-banking financial company (NBFC) in India. Through its subsidiaries, including IIFL Home Finance and IIFL Samasta Finance, the company offers products such as home loans, gold loans, business loans, microfinance, capital market finance, and construction finance. It serves more than 8 million customers across India through a network of over 4,900 branches and digital platforms.

On the financial front, IIFL Finance reported a consolidated net profit of ₹376.33 crore in Q2 FY26, compared to a net loss of ₹157.67 crore in the same quarter last year. Total income for the quarter rose 29.2% year-on-year to ₹3,309.16 crore.

Shares of IIFL Finance ended 0.72% higher at ₹564.55 on Friday, December 19, 2025.