Satish Nair appointed as New President and CEO of Asirvad Micro Finance
Satish Nair has been appointed President and CEO of Asirvad Micro Finance Limited which is a part of Manappuram Finance Limited.
Following AUM, Asirvad, headquarters located in Valapad, Kerala, ranked as the third-largest microfinance institution as of June 2023. It offers loans to economically challenged women in both rural and urban locations. A total of 22 states and four union territories in India, with 1,684 branches are being operated by Asirvad. It has assets under management (AUM) of more than Rs.10,000 crore.
Asirvad’s Chairman, V.P. Nandakumar, commented, “Satish joins the Asirvad team at a time when the microfinance sector is rapidly expanding. He is the appropriate person to assist the organization in expanding its reach and, as a result, fulfill its objective of financial inclusion. I am sure that his knowledge and experience in the financial services business will benefit Asirvad to grow sustainably. I hope for the best for him and his members.“
Satish Nair, President and CEO of Asirvad, stated, “I feel honoured to be associated with Asirvad and the Manappuram group. The microfinance business represents a thriving opportunity to address the unmet needs of India’s diverse, multicultural, and enormous population. With Asirvad’s fundamental strengths of people and technology, I believe we can deliver and support the country’s underserved sectors by providing simple, easy, and faster access to microcredit. I am excited to collaborate with industry peers, regulators, the government, and other stakeholders to fulfill our mission of serving India’s underserved and underbanked.”
Satish worked as the head of corporate affairs and treasury at Vastu Housing Finance Corporation Ltd. before joining Asirvad. He has worked with credit rating agencies such as Fitch Ratings, India Ratings & Research, and Brickwork Ratings, gaining experience in credit, business development, investor relations, and other aspects of the financial services industry. Satish earned a degree in business management and accounting from the University of Mumbai.
