IIFL Finance Limited has designated Mr. Bibhu Prasad Kanungo, a former Deputy Governor of the Reserve Bank of India, as the new Chairperson of its Board, effective immediately. The decision was unanimously approved by the Board of Directors during a meeting held on December 19, 2025. Mr. Kanungo, who previously served as RBI Deputy Governor from 2017 to 2021 and was a member of the Monetary Policy Committee, brings over four decades of experience in central banking, monetary policy, and financial regulation. His expertise includes supervisory strengthening, regulatory reforms, consumer protection, and institutional resilience. He has held various senior leadership positions at the RBI, including Regional Director and Banking Ombudsman. Prior to his current appointment, Mr. Kanungo was already serving as a Non-Executive Independent Director on the Board of IIFL Finance. His elevation is seen as a reinforcement of the company's commitment to high standards of corporate governance and regulatory discipline. In his acceptance statement, Mr. Kanungo expressed his commitment to enhancing corporate governance, systems, controls, and compliance functions, emphasizing customer centricity and transparency to make IIFL Finance a best-in-class financial entity. Mr. Nirmal Jain, Founder & Managing Director of IIFL Finance, stated that Mr. Kanungo's appointment is a significant milestone in strengthening the company's governance architecture and positioning it for future growth, leveraging his extensive experience to build a resilient and robust franchise.