The National Housing Bank (NHB) has officially announced that Sanjay Shukla has assumed the role of Managing Director (MD) as of July 30, 2024. Shukla, a seasoned chartered accountant with over three decades of experience in housing and retail asset finance, brings a wealth of expertise to his new position.
Career Background
Shukla’s career began in 1991 at LIC Housing Finance Limited, where he started as an officer. Prior to his appointment at NHB, Shukla was the founding Managing Director and Chief Executive Officer (CEO) of Centrum Housing Finance Limited (CHFL) from October 2016. During his tenure at CHFL, the company experienced significant growth and stability.
Before leading CHFL, Shukla served as the Managing Director and CEO of Cent Bank Home Finance Ltd (CBHFL). At CBHFL, he played a key role in enhancing the company’s assets under management and improving asset quality within three years.
Shukla’s career also includes prominent roles such as Business Head of Consumer Assets at ING Vysya Bank, where he was pivotal in establishing and expanding the consumer loan segment. He was instrumental in launching Tata Capital’s retail housing finance business as its first Business Head. Additionally, Shukla spent eight years at Citibank, where he served as Vice President and Area Director, managing the expansion of mortgage distribution in Tier-II and Tier-III cities.
Future Prospects at NHB
With his extensive background and proven expertise, Sanjay Shukla is poised to lead NHB through its next phase of growth and development.
RBI Divestment of Stake
In April, the Reserve Bank of India (RBI) announced the divestment of its entire stake in Nabard and NHB, selling the shares for Rs 20 crore and Rs 1,450 crore, respectively. This move followed the recommendations of the Narasimham Committee-II and the RBI’s discussion paper on aligning the roles and operations of development financial institutions and banks. The RBI noted that the government of India now holds a 100 percent stake in both financial institutions.
