Mahindra & Mahindra Financial Services Ltd appoints additional director

The Board of Directors of Mahindra & Mahindra Financial Services Limited ("the Company") at its meeting held today i.e. Monday, 8th December 2025, have, considered and approved the appointment of Mr. Parag Rao (DIN: 02436612) as an Additional Director (Non-Executive and Non-Independent) of the Company w.e.f. 10th December 2025, liable to retire by rotation.

Mr. Parag Rao has over 30 years of diverse experience in Banking / FMCG. Since 2002, Mr. Parag Rao has been associated with HDFC Bank, for whom he has run multiple P&Ls and large Pan-India teams. He has played a leadership role in transforming and maintaining HDFC Bank as a market leader in the payments and acquiring space since 2010. He has also headed the Technology & Digital Transformation function of the Bank to conceptualize, run & deliver the technology and digital transformation agenda of the Bank. In the last few years, he has also headed the liability product management group of the Bank.

He has played stellar growth roles sitting on the Boards of HBL Global (HDFC Banks Sales Subsidiary) since merged with HDB Financial Services, HDFC Ergo (Non-Life Insurance subsidiary of HDFC Bank) and National Payment Corporation of India (NPCI). He has also played a pivotal role on the Asia Pacific Client Council of VISA Inc and Global Advisory Board of Diners International Inc.

His experience spanning across FMCG & Retail Banking sectors includes stints with Crompton Greaves, Cadburys, Hindustan Unilever, Pepsico India, IBM Global Services.

Mr. Parag Rao has completed B. Tech from Regional Engineering College (REC), Jamshedpur and MMS from S.P. Jain Institute of Management.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 351.10 as compared to the previous close of Rs. 367.45. The total number of shares traded during the day was 165817 in over 4729 trades.

The stock hit an intraday high of Rs. 368.60 and intraday low of 344.50. The net turnover during the day was Rs. 59036321.00.

Source : Equity Bulls

Keywords

MahindraandMahindraFinancialServices INE774D01024 AdditionalDirector Appointment