New Delhi, Nov 25 (PTI) Mahindra & Mahindra Financial Services on Friday said its board has approved the appointment of Diwakar Gupta as an Independent Director with effect from January 1, 2023.

Gupta (69), a seasoned banker, have over 48 years of experience in banking and financial services sector.

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The company's board on Friday "approved and recommended to the shareholders of the company, the proposal for appointment of Diwakar Gupta as an Independent Director on the board of the company, for first term of 5 consecutive years with effect from January 1, 2023," according to a regulatory filing.

He was associated with State Bank of India (SBI) for 39 years. He has worked in Aditya Birla Nuvo Ltd, Asian Development Bank, Manila, and as a member of the expert committee for resolution framework for Covid-19-related stress, constituted by RBI in 2020.

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Currently, Gupta is the independent director on the board of companies-- CRISIL Ratings Ltd, Mahindra Holidays & Resorts India Ltd, Holiday Club Resorts Oy (Finland).

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