North East Small Finance Bank names Shrimohan Yadav as Independent Director

North East Small Finance Bank (NESFB) appointed Shrimohan Yadav as the Independent Director on its Board. Yadav, a 36-year banking industry veteran who spent 29 years at the Reserve Bank of India (RBI), provides a lot of knowledge and insight to NESFB.

Shrimohan Yadav made important contributions to the RBI in a variety of roles, including Chief General Manager of the Department of Regulation. His experience includes supervision, regulation, rural development, financial inclusion, and human resource management. He was instrumental in important projects such as private sector bank ownership and licensing, banking and financial mergers and acquisitions, weak bank reconstruction, and governance issues. He has played a key role in facilitating conversations with the Indian government about the privatization and divestiture of public sector banks.

He also spent 7 years with a large Public Sector Bank, focusing on credit and financing, before joining the RBI.

Yadav’s selection to the NESFB board is a strategic move to bolster the bank’s leadership further. His extensive experience and thorough grasp of the banking and financial sectors are essential advantages to NESFB as it expands and serves its clients.

Satish Kumar Kalra, Interim MD & CEO, NESFB, said, “Our continuous endeavour is to fortify the bank’s leadership with an emphasis on exceptional governance and diligent oversight. The addition of Mr Yadav as an independent director to the NESFB board is a strategic move in this direction. His extensive and unparalleled experience in banking is an invaluable asset that will undoubtedly serve as a guiding force for the bank’s sustainable growth and effective corporate governance practices.”

Reflecting on his appointment, Shrimohan Yadav, Independent Director, NESFB, added, “Throughout my career, I have been privileged to be associated with numerous groundbreaking initiatives in both public and private sectors. Today, NESFB finds itself at a particularly unique and pivotal point, unlike anything I have encountered in my professional journey.

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The bank is uniquely positioned to drive significant transformation in grassroots banking, focusing on advancing financial inclusion and access. With its upcoming merger with slice, NESFB is set to establish a distinctly inclusive and innovative digital presence. I am honoured to contribute to this endeavour and be part of NESFB’s journey to forge a path of innovation and excellence in the banking sector.”