Mumbai, September 18: Ravi Narayanan has taken over as the new CEO of SMFG India Credit (SMICC). He will succeed Shantanu Mitra, who retired last June. The NBFC firm had appointed Ravi Narayanan as its new CEO, effective August 28. He assumed his role as CEO of SMICC last month. With Ravi Narayan taking over as the new CEO of SMFG India Credit, the NBFC firm is poised to enter a new phase.

The change in leadership comes as the Sumitomo Mitsui Financial Group (SMFG) subsidiary is in the process of acquiring Yes Bank. Speaking about Narayan's appointment, Rajeev Kannan, Chairman of SMFG India Credit, last month said, "I am confident that Ravi Narayanan’s experience in retail and branch network will drive SMFG India franchise into its next era of growth and create significant value for the shareholders." Rajendra Narpatmal Lodha Arrested: Lodha Developers' Former Director Held in INR 85 Crore Fraud Case.

It is worth noting that Ravi Narayan has served in senior leadership capacities at Axis Bank and HDFC Bank. He has over thirty years of experience in retail and branch distribution. The new CEO of SMFG India Credit has also served on the board of Axis Securities and Axis Mutual Fund. In an official statement last month, Ravi Narayan said that his priority is to drive sustainable growth, forge strategic partnerships, and strengthen the company's risk and compliance culture.

"I am pleased to join SMBC Group, which has a legacy over 400 years, embarking on a journey to expand its footprint and investment in India," he added. On Tuesday, September 16, SMFG India Credit said that it has entered into a partnership with PhonePe to provide collateral-free credit to its merchants.

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