Ex-RBI Deputy Governor B. P. Kanungo Takes the Chair at IIFL Finance, Signalling a Governance Upgrade

has appointed former RBI Deputy Governor Bibhu Prasad Kanungo as non‑executive chairman of its board, with immediate effect, elevating him from his existing role as independent director. Kanungo, who served as RBI Deputy Governor between 2017 and 2021 and sat on the Monetary Policy Committee, brings over four decades of experience in central banking, regulation and monetary policy. The board described the move as a step to strengthen governance, regulatory discipline and independent oversight at the NBFC, with Kanungo expected to lead on strategy, controls and stakeholder protection. Alongside his appointment, IIFL Finance has also approved enhancing its borrowing and security-creation limits from ₹35,000 crore to ₹60,000 crore, signalling ambitions for a larger balance sheet under a more heavyweight governance framework. Source: The Hindu No Recommendations