Morarka Finance Clarifies MD Appointment Subject to RBI Approval

Morarka Finance Limited has issued a clarificatory resolution regarding the appointment of Mr. Pranay G. Morarka as Managing Director. The resolution, passed via circular on June 3, 2026, clarifies that the previously approved five-year term commencing April 24, 2026, is subject to obtaining all necessary approvals from the Reserve Bank of India (RBI), including compliance with the RBI (Non-Banking Financial Companies - Governance) Directions, 2025. This clarification does not alter the original approval but ensures it aligns with all applicable RBI regulations. The company has filed the necessary application with the RBI through the PRAVAAH portal.