Indiabulls Housing Finance Ltd has appointed Naveen
Uppal as
the Chief Risk Officer (CRO). The appointment complied with norms of National
Housing Bank (NHB), the housing finance sector regulator. His appointment will be for a
period of three years with effect from June 17, 2019. He will be directly
reporting to the managing director and CEO of the company.
RBI’s norm:
The appointment comes after the announcement made by RBI on 16 May which said
that all non-banking financial companies (NBFCs) with assets of more
than ₹5,000 crore to appoint a chief risk officer (CRO). RBI’s move was in the
wake of ongoing rating downgrades of non-banks which has raised fears of
another liquidity crisis.
Mr.Uppal:
Uppal has over 23 years of experience in operations, audit and credit risk
within the finance industry. He has been associated with Indiabulls Housing
Finance for 12 years and presently heads risk and compliance. He was also
associated with ICICI Bank as its zonal operations head
Indiabulls Housing Finance Ltd:
♦ Founded on: January, 2000
♦ Headquarters: Gurgaon, India
♦ Chairman and Founder: Sameer Gehlaut
♦ Vice Chairman and MD: Gagan Banga
♦ Indiabulls Housing Finance Ltd. (IBHFL) is India’s
second largest housing finance company, regulated by the National Housing Bank (NHB).
♦ It was rated the 13th largest consumer finance company worldwide by Forbes
Global 2000 in June 2018.
