Bhubaneswar: NBFC firm IIFL Finance has appointed former RBI Deputy Governor Bibhu Prasad Kanungo, who hails from Odisha, as non-executive chairman of the board.
His appointment was approved by its board with immediate effect at a meeting held on Friday, with an aim to strengthen governance and regulatory oversight. “As chairman, Kanungo will lead the board in setting strategic direction, enhancing governance standards, and safeguarding the interests of shareholders, customers, regulators, and other stakeholders,” IIFL Finance Managing Director Nirmal Jain was quoted as saying.
Born on May 5, 1959, Kanungo passed HSC from a high school in Bhubaneswar and studied Intermediate Science from 1973 to 1975 in Kendrapada college. He is a native of Balia village in coastal Kendrapara district. He studied BA (Honours) in History at BJB college in Bhubaneswar and did his masters in history from Utkal university in 1978.
A career central banker, he joined the Reserve Bank of India in September 1982 after passing Grade-B examination and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the four-year term as its Deputy Governor, which began in April 2017. He also served as a member of the Monetary Policy Committee. He is currently a non-executive independent director on the board of IIFL Finance Ltd.
