Capital India Finance Limited (CIFL) has announced the appointment of Mr. Surender Rana as its new Executive Vice Chairman, effective November 18, 2025. The appointment comes after receiving approval from the Reserve Bank of India (RBI) and subsequent board approval on November 14, 2025.

Appointment Details

Mr. Rana joins CIFL as an Additional Director in the category of Whole-time Director. His appointment is subject to shareholder approval and is for an initial term of three years. He will be liable to retire by rotation.

Extensive Banking Experience

Mr. Rana brings over 34 years of distinguished service at the State Bank of India (SBI), India's largest commercial bank. His most recent role at SBI was as Deputy Managing Director – SME & Agri Business. Throughout his career, he has successfully led diverse functional areas, driving strategic initiatives and organizational transformation.

Expertise and Leadership

Key areas of Mr. Rana's expertise include:

• MSME and Agri financing
• Credit and risk management
• Policy formulation
• Regulatory engagement
• Governance
• Cross-functional leadership across geographies

His contributions have significantly shaped business growth and strengthened institutional frameworks in the banking sector.

Regulatory Compliance

The appointment adheres to regulatory requirements, with CIFL confirming that Mr. Rana is not debarred from holding the office of Director by any SEBI order or other authority. The company has made the necessary disclosures in compliance with SEBI regulations.

Capital India Finance Limited's decision to bring Mr. Rana on board signals the company's intent to leverage his extensive experience in the banking and financial services sector as it aims to strengthen its position in the market.

Capital India Finance Limited (CIFL) has made a strategic move to bolster its leadership team by appointing Mr. Surender Rana as Additional Director in the category of Whole-time Director and Executive Vice Chairman, subject to regulatory approval.

Board Approval and Regulatory Compliance

The Board of Directors of CIFL, in a meeting held on September 24, approved the appointment based on the recommendation of the Nomination & Remuneration Committee. The company will seek the Reserve Bank of India's (RBI) approval for this appointment, as required under the Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023.

Appointment Details

Mr. Rana's appointment will become effective from the date of RBI approval or as decided by the Board or its Committee. The company has confirmed that Mr. Rana is not debarred from holding the office of Director by any SEBI order or other regulatory authority.

Extensive Banking Experience

Surender Rana brings a wealth of experience to CIFL, with over 34 years of distinguished service at the State Bank of India (SBI), India's largest commercial bank. His most recent role at SBI was as Deputy Managing Director for SME & Agri Business, highlighting his expertise in key areas crucial for CIFL's business.

Key Expertise

Mr. Rana's areas of expertise include:

• MSME and Agri financing
• Credit and risk management
• Policy formulation
• Regulatory engagement

Throughout his career, he has successfully led diverse functional areas, driving strategic initiatives and organizational transformation. His proven track record in governance and cross-functional leadership across geographies is expected to be a significant asset to CIFL.

Strategic Implications

The appointment of Mr. Rana as Executive Vice Chairman signals CIFL's intent to strengthen its position in the financial services sector. His extensive experience in MSME and Agri financing aligns well with the company's focus areas and could potentially drive growth in these segments.

Compliance and Disclosure

In compliance with SEBI regulations, Capital India Finance Limited has provided detailed information about Mr. Rana's appointment to the stock exchanges. The company has also confirmed that Mr. Rana is not related to any other director of the company, ensuring independence in board decisions.

This strategic appointment underscores Capital India Finance Limited's commitment to enhancing its leadership team with experienced professionals from the banking sector. As the company awaits RBI approval, the financial industry will be watching closely to see how Mr. Rana's expertise will contribute to CIFL's future growth and strategic direction.