Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Asirvad Microfinance Ltd. appoints Mr. B N Raveendra Babu as Managing Director

Posted On: 2021-07-27 17:48:42 (Time Zone: UTC)

Asirvad Microfinance Ltd. has announced the appointment of Mr. B N Raveendra Babu as the Managing Director of the company. The Chennai-based NBFC-MFI is a subsidiary of Manappuram Finance Limited (MAFIL) and is the 4th largest MFI in India.

Mr. Raveendra Babu succeeds Mr. Raja Vaidyanathan, the founder and Managing Director, who relinquished his position on 30 June. The company was founded in 2007 by Mr. S.V. Raja Vaidyanathan, and it was acquired by Manappuram Finance Limited in 2015.

Mr. B N Raveendra Babu is a promoter director of Manappuram Finance Limited where he served as an Executive Director prior to this appointment. He has over 28 years of experience in the NBFC domain in India along with 13 years of experience in the finance area in the Middle East.

Speaking to the media on his appointment, Mr. B N Raveendra Babu said, "I am quite excited to take over as Managing Director of Asirvad Micro Finance, which has an AUM of Rs.6000 Crores. We look forward to investing in innovation and to open new business segments while fostering a high-performance culture across the company."

He highlighted technology upgradation as a priority for the company as new-age financing is entirely driven by technology. The company is moving to Oracle Cloud and digitalising the entire process through a Loan Management System (LMS) developed in-house. Further, customers are to be brought to the digital platform by providing them a Customer Service Application which provides them full information about their loans and gives access to different modes of digital payments. The overarching aim, he said, is to align Asirvad's business to the vision of "Small loans, big dreams."

Shares of MANAPPURAM FINANCE LTD. was last trading in BSE at Rs. 209.55 as compared to the previous close of Rs. 193.9. The total number of shares traded during the day was 1074901 in over 9323 trades.

The stock hit an intraday high of Rs. 211.45 and intraday low of 195.05. The net turnover during the day was Rs. 220760300.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Astrazeneca Pharma India Ltd receives import and market permission for Selumetinib 10 Mg & 25 Mg Capsule

Spirit of Wipro Run brings together participants from 35 countries

Federal Bank partners with Ashok Leyland

Kotak Mahindra Bank forays into Healthcare Financing

Puravankara announces Credit Rating Upgrade by India Ratings and Research

Pay your Tata Power-DDL Bill before September 30 and stand a chance to Win Exciting Prizes

Kotak Launches Kotak Shiksha Nidhi - Financial Assistance to Students, who have lost a Primary Earning Member to COVID-19, for the Continuation of Education

Mr. Sankarshan Basu and Mr. Ramanand Mundkur Join Federal Bank's Director Board

Vedanta Jharsuguda's Power Plants awarded as 'Best Water-Efficient Plants'

PG Electroplast applies for the PLI scheme, commits Rs 300 crore Capex

Radico Khaitan signs Nidhi Agerwal as their brand influencer for Morpheus Brandy

IndianOil Corporation Collaborates with Automation Anywhere to Accelerate Automation

Federal Bank partners with OneCard to offer mobile-first Credit Card

Newgen Recognized in 2021 Gartner Magic Quadrant for Enterprise Low-Code Application Platforms for Second Year in a Row

Reliance Infrastructure Limited board approves FCCB issue, to convert into shares at Rs. 111

Reliance Power Limited appoints Shri Subrajit Bhowmick as CFO

HDFC has sold 2.13% stake in Ansal Housing Ltd

Aditya Birla Sun Life AMC reserves 1,944,000 shares to shareholders of Aditya Birla Capital Ltd

IndusInd Bank Ltd has sold 6,30,733 Equity shares of McLeod Russel India Ltd

Zeal Aqua Ltd fixes Oct 19, 2021 as record date for stock split

Mangal Credit & Fincorp Limited launches channel partners for gold loan

IRB Infrastructure Developers Ltd receives LoA from NHAI for road project in Tamil Nadu

Reliance Infrastructure Ltd appoints Shri Sandeep Khosla as CFO

PB Fintech Ltd withdraws from merger with Makesense Technologies Ltd

Avi Products India Ltd receives approval from BSE for preferential issue

TVS Srichakra Limited to participate in rights issue of TVS Srichakra Investments Ltd

Biocon Biologics Insulin Manufacturing Facility in Malaysia Completes U.S. FDA (PAI) Inspection

PNB shortlists Alankit Ltd as National Business Correspondent

Balkrishna Industries Limited to raise Rs. 1000 crores

CRISIL upgrades long term rating of Nahar Spinning Mills Ltd

Mr. Sujay Wasan resigns as Director of Procter & Gamble Health Limited

InterGlobe Aviation Ltd updates on arbitral award

B N Rathi Securities Limited board approves rights issue

Orient Cement Ltd to explore setting up of Cement Grinding Unit at Tiroda, Maharashtra

NBCC India Ltd secures work order at Hulhumale, Maldives

Dalmia Cement Bharat Ltd commences commercial production of Line 2 at its Kapilas Cement Manufacturing Works, Cuttack

Century Plyboards India Ltd increases stake in Century Infotech Ltd to 99.99%

Nucleus Software Exports Limited board approves buy back at Rs. 700 per share

NHPC Ltd to form subsidiary

EKI Energy Services Ltd opens 3 new International Business Points

SJVN bags 1000 MW Solar PV Power Project

Sun TV Network Ltd announces resignation of Mr. J Ravindran

Modern Steels Ltd announces disruption at its plant

Trimurthi Ltd gets Rs. 25 lakhs claim from defaulted broker

Sanrhea Technical Textiles Ltd board to consider preferential issue on Sep 30, 2021

Indiabulls Housing Finance Ltd raises ₹ 251 crores by selling part of its stake in OakNorth Holdings Ltd

Xelpmoc Design and Tech Ltd has sold its stake in Madworks Ventures Pvt Ltd

TPL Plastech Ltd allots 78,00,300 Equity Shares

Unison Metals Ltd to invest in Chandanpani Pvt Ltd

JSW Energy Limited's JV updates on rating

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020