In an effort to strengthen its position in India's quickly growing green finance market, Satin Finserv, the non-banking financial division of Satin Creditcare Network Ltd (SCNL), named Pramod Marar as its CEO.

Marar has worked in fintech start-ups, sustainability-focused businesses, and blue-chip banking for almost thirty years.

Before spending 18 years in HSBC India, where he held key positions in corporate banking, SME, and microfinance, he started his career at HDFC Bank and Axis Bank. 

According to Business Standard, he was the Managing Director and Chief Operating Officer for Wholesale Banking in India in his previous position at HSBC.

In addition to conventional banking, Marar has established a distinguished reputation as an entrepreneur. In addition to serving as MD and CEO of GoGreen Capital, he co-founded TapFin and MoEVing Fintech, a platform dedicated to funding clean transportation.

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His focus on sustainability-linked finance and creative credit models that combine capital markets with environmentally friendly results has been emphasized in each position.

 

A time of upheaval at the top is also reflected in the changeover. According to Satin Creditcare's filings with stock markets earlier this year, Dhiraj Jha temporarily took over as CEO of Satin Finserv on January 17, 2025, after Bhuvnesh Khanna resigned on January 16, 2025.

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Therefore, Marar's promotion is a repositioning exercise with sustainability at its center as well as a continuation of leadership.

A major step to strengthen its capital basis was previously revealed by prominent microfinance company Satin Creditcare Network Limited (SCNL). The issuing of subordinated, unsecured, non-convertible debentures (NCDs) up to INR 75 crore on a private placement basis has been authorized by the company's Working Committee.

The issuance of the debentures and SCNL's recent results demonstrate the company's emphasis on long-term expansion and sound financial standing. SCNL's strategic actions put it in a position to benefit from the rising demand for small-ticket, need-based financing in rural and semi-urban regions, as the microfinance industry continues to play a significant part in India's efforts to promote financial inclusion.

Stakeholders and investors will be closely monitoring how this cash injection affects SCNL's future expansion and competitive position in the microfinance industry.