Press Statement

Religare announces the appointment of Mr. Nitya Kishore Sahu as Group Head – Compliance

New Delhi, 26 April 2018: Religare Enterprises Limited (REL), a diversified financial services group, today announced the appointment of Mr. Nitya Kishore Sahu as Group Head – Compliance. He will be responsible for spearheading group-wide compliance function. His appointment is in line with the strong focus on the highest standards of corporate governance, particularly in the area of business ethics and regulatory compliance by the Board of the Company. The Company is committed to ensure that the ethos of good governance, ethics and accountability become the hallmark of Religare Group.

Mr. Sahu is an experienced Central Banker, having worked with the Reserve Bank of India (RBI) for more than 35 years. In his illustrious career, he has handled several critical roles at RBI, especially in the areas of Banking Regulation and Supervision, Non-Banking Regulation and Supervision, Human Resource Management, Financial Management, Forex Control and Management, Customer Service, Financial Inclusion, National Clearing Cell, and Payment and Settlement Systems.

In his last assignment at RBI, Mr. Sahu served as the Regional Director of RBI for the State of Jammu and Kashmir, driving the overall agenda for development of the financial sector in the state. Among other key assignments in recent years, he has been the Banking Ombudsman for the states of West Bengal and Sikkim, and has headed the Department of Non-Banking Supervision at RBI, Kolkata. He has been a member of several important internal committees in the RBI which has given him a deep insight into policy making and also a global perspective on various issues. Among others, he was a member of the Internal Committee on Non-Banking Supervision and Regulation.

Mr. Sahu holds a post graduate degree in Economics from the Delhi School of Economics and also is a Certified Associate of the Indian Institute of Bankers (CAIIB).

Commenting on the new appointment, Mr. Ashok Mehta, Interim Chief Executive Officer, Religare Enterprises Limited said, “We welcome Mr. Nitya Kishore Sahu to the Religare family. Given his deep and incisive understanding of the financial sector in India, we are sure that he will contribute immensely to strengthening Religare as a financial institution, particularly in the areas of regulatory compliance and governance.”

About Religare Enterprises Limited

Religare Enterprises Limited (REL) is a diversified financial services group present across three verticals. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL is listed on the BSE (formerly Bombay Stock Exchange) and National Stock Exchange (NSE) in India.

As a group, Religare caters to diverse segments of the market from mass retail to affluent, SMEs to mid-size corporates. Subsidiaries service over 1.1 mn. clients from over 1,275 locations having presence in more than 400 cities.

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Kuntal Shukla
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T. Unnayan
Torque Communications