In a strategic move aimed at fortifying its governance structure and driving sustained growth and innovation in the microfinance sector, IIFL Samasta Finance, one of India's leading non-banking microfinance companies (NBFC-MFI), has announced the appointment of three distinguished members to its Board of Directors.
The latest additions to the Board include seasoned industry stalwarts, each bringing a wealth of experience and expertise to the table. R. Venkataraman, Co-promoter of IIFL Group and Chairman of IIFL Securities, joins as an Additional Director (non-executive), while Dr. Govinda Rajulu Chintala, former Chairman of NABARD, and Kalengada Mandanna Nanaiah, former Managing Director of Equifax Credit Information Services, come on board as Additional Directors (non-executive and independent). With their induction, the Board now comprises six members, poised to steer the company towards new heights of success.
Dr. Govinda Chintala, an industry veteran with over two decades of experience across various financial, insurance, and microfinance institutions, expressed his enthusiasm about joining the esteemed team at IIFL Samasta Finance. He brings with him a legacy of transformative leadership, having served as the Chairman of NABARD until July 2022. During his tenure, Dr. Chintala spearheaded several landmark initiatives, including the establishment of critical funds like the Long-term Irrigation Fund and Rural Infrastructure Development Fund (RIDF), underscoring his commitment to fostering rural development and financial inclusion.
Kalengada Nanaiah, whose extensive tenure at Equifax Credit Information Services saw him at the helm of affairs until July 2023, brings a deep understanding of the financial services sector, particularly in the realms of data, technology, and analytics. Having garnered recognition for his dedication to fostering workplace diversity, Nanaiah's appointment underscores IIFL Samasta Finance's commitment to inclusivity and innovation in its strategic vision.
R. Venkataraman, a pivotal figure in the IIFL Group's journey over the past 25 years, adds invaluable insights and strategic acumen to the Board. With a rich background encompassing senior managerial roles at ICICI Limited and GE Capital Services India Limited, Venkataraman's expertise will be instrumental in charting the company's course amidst evolving market dynamics.
In welcoming the new appointees, Venkatesh N., Managing Director of IIFL Samasta, expressed his delight at the prospect of leveraging their collective expertise to propel the company's pursuit of innovation and customer-centricity. The diverse backgrounds and proven track records of success brought by Dr. Chintala, Nanaiah, and Venkataraman are poised to complement the existing Board members' skill sets, fostering a synergistic environment conducive to achieving the company's strategic objectives.
The appointments come at a pivotal juncture for IIFL Samasta Finance, as it seeks to navigate through challenges and capitalize on emerging opportunities in the dynamic microfinance landscape. With a steadfast commitment to delivering unparalleled value to its customers and stakeholders, the company remains steadfast in its mission to drive financial inclusion and empowerment across India's diverse socio-economic landscape.
As the microfinance sector continues to evolve, IIFL Samasta Finance stands poised to lead the charge, armed with a robust governance framework and a visionary leadership team committed to driving sustainable growth and impact. With the collective expertise of its newly appointed Board members, the company is well-positioned to seize new opportunities, overcome challenges, and write the next chapter in its journey of excellence and impact in the microfinance domain.