BP Kanungo at the moment serves as a non-executive impartial director on the board of IIFL Finance Restricted. |Picture courtesy of The Hindu
NBFC firm IIFL Finance has appointed former central financial institution deputy governor BP Kanungo as non-executive chairman of its board.
IIFL Finance mentioned in a regulatory submitting on Friday (December 20, 2025) that the Board of Administrators’ assembly held on Friday (December 19, 2025) instantly accredited Mr. Kanungo’s appointment, confirming its robust confidence in his management, independence, and deep regulatory and institutional experience.
The newspaper mentioned Kanungo has greater than 40 years of expertise in central banking, financial coverage and monetary regulation.
He served as Deputy Governor of the Reserve Financial institution of India from 2017 to 2021 and was a member of the Financial Coverage Committee (MPC).
Mr. Kanungo at the moment serves as a Non-Govt Impartial Director on the Board of Administrators of IIFL Finance Restricted.
IIFL Finance Managing Director Nirmal Jain mentioned that as Chairman, Mr. Kanungo will lead the board of administrators, set strategic route, strengthen governance requirements and shield the pursuits of shareholders, prospects, regulators and different stakeholders.
The submitting additional mentioned that the corporate has acquired a discover dated October 6, 2025, below Part 158BC of the Revenue Tax Act, 1961, requiring it to file an revenue return in Kind ITR-B for the lump sum interval from April 1, 2018 to February 3, 2025, in respect of revenue reportable pursuant to the Revenue Tax Audit.
Pursuant to the mentioned notification, the corporate filed an revenue return in Kind ITR-B and paid tax amounting to Rs.1.47 billion on the relevant fee.
There shall be no materials influence on the corporate’s monetary, operational or different actions, it added.
The board additionally accredited a rise within the borrowing restrict and the restrict for pledging firm property from Rs 35,000 crore to Rs 60,000 crore, topic to shareholder approval.
