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Indiabulls Housing Finance Ltd has appointed Naveen Uppal as the Chief Risk Officer

Posted on:19 Jun 2019 19:08:34
Indiabulls Housing Finance Ltd has appointed Naveen Uppal as the Chief Risk Officer
19 June 2019 Current Affairs: 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.
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.

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