New Delhi : IFCI Limited, a Government of India-owned non-banking financial company (NBFC), has reappointed Shri Jagdish Garwal as its Chief Risk Officer (CRO) for a further one-year term, the company said in a regulatory filing on Friday.
The reappointment has been disclosed to the stock exchanges in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was submitted to National Stock Exchange of India Limited and BSE Limited for information and record.
Tenure and Regulatory Framework
As per the filing, Shri Jagdish Garwal’s existing tenure as Chief Risk Officer was set to expire on February 28, 2026. In accordance with the NBFC–Governance Directions issued by the Reserve Bank of India on November 28, 2025, IFCI has approved his reappointment for another one-year term, effective March 1, 2026, to February 28, 2027.
The company noted that the decision is fully aligned with regulatory requirements, ensuring continuity in risk management oversight and governance compliance.
Professional Background and Experience
Shri Jagdish Garwal currently serves as General Manager at IFCI Ltd and brings approximately 32 years of experience with IFCI and its subsidiary. Over the course of his career, he has handled multiple critical functional areas, including:
- Information Technology (IT)
- Sugar Development Fund
- Vigilance
- Recovery
- Internal Audit
He has been serving as the Chief Risk Officer for the past two years, playing a key role in strengthening the company’s risk management framework.
Educational Qualifications
Shri Garwal holds strong academic and professional credentials, including:
- Bachelor of Engineering (Computer Engineering)
- Master of Business Administration (MBA)
- Bachelor of Laws (LLB)
- Certified Associate of the Indian Institute of Bankers (CAIIB)
Focus on Risk Management and Governance
According to IFCI, the reappointment reinforces the company’s commitment to robust risk governance, regulatory compliance, and sound corporate practices, especially in the evolving NBFC regulatory environment.
The company clarified that the disclosure has been made strictly in line with SEBI LODR norms and has been submitted to the stock exchanges for official record.