Chandigarh, 13th August, 2020: Capital India Finance Limited (BSE-530879) today announced the appointment of Dr. Harsh Kumar Bhanwala, an Industry Veteran and former Chairman – NABARD, as the Executive Chairman, to the board with effect from August 6, 2020.

Welcoming Dr. Harsh Kumar Bhanwala on board as Executive Chairman Mr SK Narvar, Promoter, Capital India Finance Limited said,” We are extremely pleased to have Dr. Bhanwala on board with us as Executive Chairman and extend our warmest regards and good wishes on behalf of the entire team at Capital India Finance Ltd (CIFL). I am confident that Dr. Bhanwala’s immense experience of more than two decades will add greater value to the Capital India Group and take it to the next growth phase. I wish him a successful journey ahead and look forward to his valuable insights and expertise to fuel Company’s growth plans”

Speaking on the appointment, Dr. Bhanwala said: “I am delighted to be a part of Capital India family. It’s a great opportunity to work with the incredible pool of talent present in the company. With my 25 years of experience in the financial sector, I am confident to add value to the company's operation enabling further growth of Capital India.

In these challenging times when the whole world is fighting Covid-19 pandemic, it is important for companies in financial sector to stay relevant and keep introducing innovative strategies to create large customer base and achieve company’s growth. “

Prior to joining, Capital India, Dr. Bhanwala has been the Chairman – NABARD and the Executive Director of India Infrastructure Finance Company Ltd. (IIFCL) and also functioned as its Chairman and Managing Director from 2012 to 2013.

Dr. Bhanwala holds a Post-Graduate degree in Management from IIM, Ahmedabad and is also a PhD holder. He has also been the Managing Director of Delhi State Cooperative Bank Ltd (DSCB), during its turning around (1999 to 2005). During his stay with NABARD & DSCB, he led various initiatives related to Financial Inclusion, Microfinance, Coop. Credit Institutions, Rural Infrastructure Project Development and Project Appraisal related to Agricultural Projects.