IIFL Housing Finance (“IIFL HFC”) appoints Mr. S Sridhar as Chairman and Mr. Kranti Sinha as Independent Director

IIFL Housing Finance (“IIFL HFC”) appoints

               

Mr. S Sridhar as Chairman and Mr. Kranti Sinha as Independent Director

India Infoline Housing Finance Limited, (IIFL HFC) the housing finance subsidiary of India Infoline Limited today announced two important appointments. Mr. S Sridhar, former Chairman of National Housing Bank (NHB) and Central Bank of India, has been appointed as Non Executive Chairman while Mr. Kranti Sinha, former CEO of LIC Housing Finance Limited and Director of India Infoline Limited has been appointed as Independent Director of IIFL HFC.

 

Speaking on the occasion, Mr. Nirmal Jain, Chairman, India Infoline Limited said, “Mr. S Sridhar successfully led NHB, the country’s housing finance regulator in development of housing finance sector and its regulation and Mr. Kranti Sinha with his rich experience steered LIC Housing Finance and also guided IIFL as an Independent Director. We look forward to benefitting from their rich and in-depth experience of development banking and finance particularly housing finance, in scaling up the housing finance business of the IIFL Group.”

Mr. Sridhar is an eminent personality in the banking and finance industry and has held several senior positions in retail, corporate and export/import banking in his career of over 35 years culminating as the Chairman of NHB and Central Bank of India. In his stint as Chairman and Managing Director of the NHB, he played a significant role in introducing the residential price index as well as pushing the reverse mortgage product for senior citizens. Prior to this, he was associated with EXIM Bank as Executive Director as well as State Bank of India in the early part of his career.

Mr. Kranti Sinha is a renowned person in insurance and housing finance industry. He served as the Director and Chief Executive of LIC housing Finance Limited and concurrently as the Managing Director of LICHFL Care Homes. He was also the Deputy President of the Governing Council of Insurance Institute of India and was a member of the Governing Council of National Insurance Academy.

About IIFL Group

IIFL (India Infoline group), comprising the holding company, India Infoline Ltd (NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India’s leading online destinations for personal finance, stock markets, economy and business.

IIFL won ‘Best Customer Service in Financial Markets’ award organized by Franchise India.

Mr. Nirmal Jain, our Chairman has also received the ‘Entrepreneur of the Year’ award at the 10th Franchise India Awards, 2012. IIFL has received ‘Best Equity Broking House with Global Presence’ at the D&B Equity Broking Awards 2012 as well as for 2011. IIFL Wealth was awarded ‘Best Wealth Management House, India’ at The Asset Triple A Investment Awards, 2012 as well as for 2011. IIFL has also been awarded as the ‘Best Broker in India, 2011’, by FinanceAsia and the 'Best Equity Broker of the Year, 2011' by Bloomberg UTV. A forerunner in the field of equity research, IIFL’s research is acknowledged by none other than Forbes as ‘Best of the Web’ and ‘...a must read for investors in Asia’. IIFL research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

A network of close to 3672 business locations spread over close to 900 cities and towns across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of over a million customers, over a variety of mediums viz. online, over the phone and at our branches.

IIFL/ India Infoline refer to India Infoline Ltd and its group companies.