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.

Capital India Finance Limited (CIFL) has announced several key decisions following its Board of Directors meeting held on August 13, 2025. The non-banking financial company (NBFC) has approved significant changes in leadership, financial strategies, and business expansion plans.

Leadership Continuity

The Board has approved and recommended the re-appointment of Mr. Keshav Porwal as Managing Director for another three-year term, effective from November 27, 2025. This decision is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Mr. Porwal, an industry veteran with over two decades of experience in finance and real estate, has been instrumental in CIFL's growth and strategic direction.

Financial Performance

For the quarter ended June 30, 2025, CIFL reported:

The company's performance reflects a challenging economic environment, with a marginal profit compared to the previous quarter.

Fund Raising Initiative

In a significant move to bolster its financial position, CIFL's Board has approved raising funds up to Rs 200 crore. This will be achieved through the issuance of non-convertible debentures, bonds, medium-term notes, and other debt securities. The fund-raise is subject to shareholder approval and necessary regulatory clearances.

Business Expansion

CIFL plans to expand its business scope. The Board has approved amendments to the company's Memorandum of Association to include insurance intermediation business. This strategic move aims to diversify the company's revenue streams and offer a broader range of financial services to its customers.

Corporate Governance

The company has appointed M/s. Arun Gupta & Associates as Secretarial Auditors for a five-year term from April 2025 to March 2030, subject to shareholder approval. This appointment underscores CIFL's commitment to maintaining high standards of corporate governance and regulatory compliance.

Annual General Meeting and Dividend

CIFL has scheduled its 31st Annual General Meeting for September 25, 2025, to be held via video conferencing. The company has set September 19, 2025, as the record date for determining shareholder eligibility for dividend, if declared. The share transfer books will remain closed from September 20-25, 2025.

Employee Stock Options

During the quarter, CIFL allotted 451,906 equity shares to employees under its Employee Stock Option Plan 2018. Additionally, the Nomination and Remuneration Committee granted 4,000,000 options under the CIFL Employee Stock Option Plan 2023 at an exercise price of Rs 19 per share.

These developments indicate Capital India Finance Limited's focus on sustainable growth, corporate governance, and employee incentivization as it navigates the evolving financial services landscape.