Sanjay Shukla assumes charge as managing director of National Housing Bank

Before joining NHB, Shukla was the founding MD and chief executive officer (CEO) of Centrum Housing Finance Limited (CHFL) from October 2016

The National Housing Bank announced that Sanjay Shukla has officially taken on the role of managing director (MD) as of July 30, 2024.

A seasoned chartered accountant with over three decades of experience in housing and retail asset finance, Shukla has a distinguished history of leading and transforming financial institutions. He began his career in 1991 as an officer at LIC Housing Finance Limited, the National Housing Bank (NHB) said in a statement.

Before joining NHB, Shukla was the founding managing director and chief executive officer (CEO) of Centrum Housing Finance Limited (CHFL) from October 2016.

Under his leadership, CHFL saw substantial growth and stability. Prior to his tenure at CHFL, Shukla was the managing director and CEO of Cent Bank Home Finance Ltd (CBHFL), where he significantly enhanced the company's assets under management and improved asset quality within three years, the statement said.

Shukla's career also includes key positions such as business head of consumer assets at ING Vysya Bank, where he was instrumental in establishing and expanding the consumer loan segment. He played a critical role 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.

With his extensive background and proven expertise, Sanjay Shukla is set to guide NHB through its next phase of growth and development, the statement further said.

RBI sells stake

In April, the Reserve Bank of India (RBI) announced that it had sold its entire stake in Nabard and the National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crore, respectively.

The RBI explained that this divestment was carried out following the recommendations of the Narasimham Committee-II and the central bank's discussion paper on aligning the roles and operations of development financial institutions and banks.

“With this, the government of India now holds 100 per cent stake in both financial institutions,” the RBI said.