The race for the top post at PNB Housing Finance has narrowed, with Ajai Shukla, Chief Business Officer (CBO) at Tata Capital Housing Finance, emerging as the frontrunner for the CEO position, multiple sources told CNBC-TV18.

Tata Capital did not respond to CNBC-TV18’s query. CNBC-TV18 has also reached out to Sachinder Bhinder and PNB Housing for comments; responses are awaited.

According to sources, the PNB Housing board has submitted a shortlist of candidates to the Reserve Bank of India (RBI) and the National Housing Bank (NHB) for approval. Regulatory clearances for the appointment are currently in process.

Other key contenders include Jatul Anand, Executive Director at PNB Housing Finance, and Sachinder Bhinder, CEO of Aavas Financiers.

Shukla, a veteran in the financial services

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