Board approves CFO appointment; two proposed directors await RBI approval

Board meeting outcome dated 9th October 2026.

Fri 9 Oct 2026

CFO Appointment

Mrs. Mathangi G appointed Chief Financial Officer with effect from 9th October 2026

CFO Experience

Chartered Accountant with around 10 years of experience in accounting, finance, banking and financial services

Proposed Directors

Mrs. Viji Shankaren and Mr. Karuppana Gounder Rajendran, subject to prior approval of the Reserve Bank of India

Two board-level people changes were intimated after the Board meeting of 9th October 2026. One takes effect immediately; the other is a proposal that waits on the Reserve Bank of India.

The CFO appointment

• The Board considered and approved the appointment of Mrs. Mathangi G as the Chief Financial Officer (CFO) of the company with effect from 9th October 2026.
• The appointment was based on the recommendation of the Nomination and Remuneration Committee.
• Mrs. Mathangi G is a Chartered Accountant with around 10 years of experience in accounting, finance, banking and financial services.
• Her experience covers credit appraisal, loan processing, financial analysis, accounting, financial reporting and monitoring of loan portfolios, with knowledge of credit assessment, lending operations, asset quality and financial management, and exposure to banking and NBFC-related activities.
• She is not related to any Director of the Company.

The two proposed Directors

• The Nomination and Remuneration Committee, after due evaluation, identified and recommended Mrs. Viji Shankaren (DIN: 11985124) and Mr. Karuppana Gounder Rajendran (DIN: 11987059) as suitable candidates for appointment as Directors on the Board.
• Based on that recommendation, the Board approved the identification of these individuals as proposed Directors.

Why the director appointments are not effective yet

• Under Chapter III of the Reserve Bank of India (Non-Banking Financial Companies - Governance) Directions, 2025, the appointment is subject to the prior approval of the Reserve Bank of India.
• The company would file an application on the RBI's PRAVAAH portal seeking their appointment on the Board.
• After the RBI approval, the approval of the Board and the shareholders would be sought within the prescribed period.
• The disclosure to the stock exchanges in respect of that appointment would be made after it becomes effective.

Simple takeaway

• The finance function has a new head from 9th October 2026.
• The change in the Board's composition is at the proposal stage, because the RBI's prior clearance comes first, followed by Board and shareholder approvals.
• Both items are people and governance changes, and the update does not carry a monetary amount.

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