IIFL Finance appoints ex-RBI Deputy Governor B. P. Kanungo as chairman

NBFC steadfast IIFL Finance has appointed erstwhile RBI Deputy Governor B. P. Kanungo arsenic non-executive president of the board.

The committee astatine its gathering held connected Friday (December 19, 2025) approved Kanungo's assignment with contiguous effect, underscoring its beardown assurance successful his leadership, independence, and heavy regulatory and organization expertise, IIFL Finance said successful a regulatory filing connected Friday (December 20, 2025).

Kanungo brings with him implicit 4 decades of acquisition successful cardinal banking, monetary policy, and fiscal regulation, it said.

He served arsenic Deputy Governor of the Reserve Bank of India from 2017 to 2021, and was a Member of the Monetary Policy Committee (MPC).

Mr. Kanungo presently serves arsenic a non-executive autarkic manager connected the committee of IIFL Finance Limited.

As chairman, Mr. Kanungo volition pb the committee successful mounting strategical direction, enhancing governance standards, and safeguarding the interests of shareholders, customers, regulators, and different stakeholders, IIFL Finance Managing Director Nirmal Jain said.

The filing further said the institution had received a announcement dated October 6, 2025, nether Section 158BC of the Income Tax Act, 1961, requiring the filing of a instrumentality of income successful Form ITR-B for the artifact play from April 1, 2018, to February 3, 2025, successful respect of income required to beryllium reported pursuant to the Income Tax Search.

In compliance with the said notice, the institution filed its instrumentality of income successful Form ITR-B, and paid taxation astatine the applicable complaint amounting to ₹1.47 crore.

There is nary worldly interaction connected the financial, operational, oregon different activities of the company, it added.

The committee besides approved the enhancement of the borrowing bounds and bounds for instauration of information connected the company's assets from ₹35,000 crore to ₹60,000 crore, taxable to the support of shareholders.