India Mortgage Guarantee Corporation (IMGC) has appointed Rajesh Sud to its Board of Directors, according to a statement from the Corporation. Sud brings nearly three-and-a-half decades of experience across banking, NBFCs, and insurance sectors to the company's governance structure. His extensive background in financial services is expected to strengthen IMGC's board composition and strategic oversight capabilities. Rohit Gupta, President, CEO & Director of Enact Holdings, welcomed the appointment, stating that Sud is "one of the most respected figures in Indian financial services, with an exceptional track record of building and scaling institutions that have shaped the country's insurance and banking landscape."
Sud previously served as MD & CEO of Axis Max Life, demonstrating his leadership capabilities in the financial services industry. As a founding member of Max New York Life Insurance, now Axis Max Life Insurance, he served as its Managing Director and Chief Executive Officer from 2008 to 2018, helping build it into one of India's largest private life insurers. His appointment represents IMGC's continued focus on attracting experienced professionals to its board, as reported by The Hindu BusinessLine. The Corporation is backed by global and multilateral institutions, including Enact Holdings, Sagen, International Finance Corporation (IFC), Asian Development Bank (ADB), and National Housing Bank (NHB).
Since commencing operations in 2014, IMGC has demonstrated significant market impact in the housing finance sector. According to the Corporation's statement, IMGC has facilitated more than ₹45,000 crore of home loan guarantees, supporting over 1.50 lakh homebuyers across more than 400 locations nationwide. This substantial operational scale reflects the Corporation's role in expanding housing finance accessibility across India, particularly as India's housing finance market continues to witness growing demand driven by rapid urbanisation, an expanding middle class, and the need for affordable housing.
Sud emphasized the critical role of housing finance in economic development and financial inclusion during his appointment announcement. As reported by The Hindu BusinessLine, he stated that housing finance remains a critical enabler of economic development and financial inclusion, and that IMGC occupies a unique position within the ecosystem by helping lenders extend credit responsibly while expanding access to housing. Commenting on his appointment, Sud said he is "pleased to join the Board and look forward to working with the management team and fellow directors to support the company's continued growth and long-term vision." This strategic perspective aligns with IMGC's mission to support responsible lending practices while expanding housing finance accessibility.
