GIC Housing Finance appoints Asit Kumar Nandi as Chief Compliance Officer

GIC Housing Finance Ltd has appointed Asit Kumar Nandi as its Chief Compliance Officer for a term of 36 months, effective from the date of his joining. The appointment, approved by the Board based on the recommendation of the Nomination & Remuneration Committee, was disclosed to the exchanges on July 14, 2026.

Nandi brings over 39 years of experience from the State Bank of India and currently serves as Director – Compliance at Alexis Finance Pvt. Ltd., a position he has held since November 2024. His expertise spans regulatory compliance, internal audit, AML/KYC, and NPA management, having previously overseen operations for 216 branches with a workforce of over 2,500 employees.

The disclosure was made under Regulation 30 and 51 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company stated that the specific date of joining would be intimated separately in due course.

Appointment Details

Particulars	Details
Appointee	Asit Kumar Nandi
Designation	Chief Compliance Officer
Term	36 Months
Effective Date	From the date of joining

Professional Background

Nandi is a seasoned Banking and Financial Services professional with extensive experience in strengthening governance frameworks and ensuring RBI-compliant risk and regulatory practices. He has led large-scale audit and compliance programs and advised senior management and boards on risk and policy matters. His core areas of expertise include Retail & SME Banking, HR & Superannuation Fund Administration, and Economic Research.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.00%	-2.46%	-4.27%	-12.19%	-25.27%	-20.75%

GIC Housing Finance Limited was penalized ₹3.10 lakh by the Reserve Bank of India (RBI) for non-compliance with specific provisions of the 'Know Your Customer (KYC)' directions. The regulator imposed the fine under the powers conferred by Section 52A of the National Housing Bank Act, 1987, following a statutory inspection conducted by the National Housing Bank (NHB). The inspection reviewed the company's position as on March 31, 2025.

The specific non-compliance identified by the RBI was the absence of periodic review of risk categorization of customer accounts. This lapse pertains to Paragraph 12 of Chapter IV and 37(a) of Chapter VI of the RBI (KYC) Directions, 2016. The directions were initially issued via circular No. DBR.AML.BC.No.81/14.01.001/2015-16 dated February 25, 2016, and updated as on January 04, 2024.

The company received the speaking order via email on July 03, 2026. In its disclosure to the exchanges, GIC Housing Finance confirmed that the penalty payable would have no material impact on its financial, operational, or other activities.

Details of the Penalty

Particulars	Details
Name of the Listed Company	GIC Housing Finance Limited
Name of the Authority	Reserve Bank of India (RBI)
Type of communication	Speaking Order issued by RBI
Date of receipt	July 03, 2026
Penalty imposed	₹3.10 lakh
Period of violation	Position as on March 31, 2025
Regulatory provision	Section 52A of the National Housing Bank Act, 1987

Corrective Actions

GIC Housing Finance stated that it is currently in the process of implementing corrective measures. These actions are aimed at ensuring full compliance with the applicable RBI Directions regarding the periodic review of risk categorization for customer accounts.