Financial services firm Navi appoints new CEOs as part of leadership rejig

Sachin Bansal steps down as Navi CEO; to serve as executive chairman of the group

Financial services player Navi Group on Friday announced the appointment of two new chief executive officers (CEOs) for its companies, including Navi Technologies and Navi Finserv.

 

Sachin Bansal has resigned from his position as CEO of the companies and will serve as the executive chairman of Navi Group.

 

Rajiv Naresh has been appointed CEO of Navi Technologies, whereas Abhishek Dwivedi will serve as Navi Finserv’s CEO.

 

Dwivedi will focus on the group’s lending business, whereas Naresh will head all non-lending businesses within the group, the company said.

 

Both have been part of Navi since its inception.

 

 

Bansal will oversee the group’s long-term vision, including expansion opportunities, fund-raising, and merger and acquisition (M&A) efforts, the company added.

 

His focus will remain on improving compliance and risk management across the group and driving the firm’s technology initiatives.

 

"This restructuring is a strategic milestone that enables us to sharpen our focus on long-term growth. Both Rajiv and Abhishek have played key roles in our growth, and I am confident that we will continue on this upward trajectory as they assume their new roles," Bansal added.

 

The top-level rejig comes months after the Reserve Bank of India (RBI) barred the company, along with other regulated entities, from pursuing its lending operations.

 

The banking regulator had prohibited the non-banking financial company (NBFC) from sanctioning and disbursing loans or charging exorbitant interest rates to borrowers, effective October 21, 2024.

 

The RBI lifted restrictions in December last year.